JMG Realty Sells Florida Multifamily for $60M
The recently renovated, 240-unit property, Highlands Viera West, was purchased by an affiliate of the ConAm Group.
MELBOURNE, FL – JMG Realty Inc. has sold a 240-unit multifamily property in Melbourne, FL to an affiliate of the ConAm Group for $60 million.
The recently renovated property, Highlands Viera West, comprises a two- and three-story apartment community, located at 2185 Judge Fran Jamieson Way. The asset is situated near Florida’s Space Coast, just southeast of Orlando, FL.
The property features a fitness center, a clubroom and lounge and a resort-style pool with a gazebo area. The community’s one-, two- and three-bedroom units average 1,250 square feet.
JMG Realty recently implemented renovations at the property, which was built in 2008. The firm updated unit counters, added LVT flooring and expanded the fitness center.
The JLL capital markets team, led by managing directors, Jay Ballard and Ken DelVillar, represented the seller in completing the sale.