NSD Partners Arranges $76M Sale of 320-unit Multifamily Asset in Florida
By: NSD Partners LLC
Blake Maher represented the seller, Northshore Development, on this transaction. "This truly is a can't miss asset in one of the hottest sub-markets in Florida, we are lucky to work with such a great team to facilitate this off-market transaction,"
Located at 2155 Robert J Conlan Blvd NE in Palm Bay, Florida, the 320-unit, four-story complex was completed in 2020 and offers one-, two- and three-bedroom units ranging from 832 to 1,395 Square Feet. Individual unit features include Stainless Steel Appliances, Granite Countertops, Eat-in Kitchen, Fireplace, Balcony, Walk-In Closets, Tub/Shower, Range, Washer/Dryer, LED Lighting, Ceiling Fans, soaring 10 ft ceilings, Pantry, and Wood Flooring throughout. Community amenities include an Award-Winning 24-Hour Access Clubhouse, State-of-the-
The Bayfront redevelopment district of Palm Bay is positioned to be one of the fastest growing areas in all the Space Coast. The area is poised for continued growth as over 1,000 brand new units have been slated for construction in 2022. The area is strategically located near the city's largest employer's such as Raytheon, Northrup Grumman, Intersil, L3Harris, and more. People living in the "new downtown Palm Bay" will really have a live, work, play location with brand new restaurants, bars and more, all within walking distance.
NSD Partners is a leader in multifamily property sales and capital market transactions, having completed over $200 million in property financing and sales volume since 2019. The sale of Aqua Palm Bay Apartments at $76M, marks the largest single transaction for NSD Partners in their short history.
About NSD Partners
NSD Partners, headquartered in Orlando, Florida is a boutique full service real estate firm. The company provides a comprehensive range of capital solutions for all commercial real estate asset classes, as well as investment sales brokerage services. NSD Partners originated in 2019 and since then has been one of the fastest growing firms in Florida. Offices located in Orlando and West Palm Beach.
About Northshore Development
Founded by Franz Hanning and Andrew Steel, Northshore Development is a mid-market mixed use and apartment development firm that focuses on Florida's growing rental market. The Northshore team has built over 20,000 units in their combined career and financed over $5 billion of real estate assets. They currently maintain a pipeline of approximately 1,200 units under development.