Berkadia announced the sale of Stellar at Emerald Hills, a 197-unit apartment community located between Fort Lauderdale and Hollywood in Dania Beach, Florida.
Senior Managing Directors Roberto Pesant and Jaret Turkell, Senior Director Yoav Yuhjtman, and Director Omar Morales of Berkadia South Florida led the transaction on behalf of the seller, South Florida-based Stellar Communities. The property sold for an undisclosed price to JSB Capital Group, a real estate investment firm with offices in Miami.
“South Florida continues to be one of the country’s top-performing apartment markets with strong job growth and in-migration from other states,” said Pesant. “An investor flight to quality puts newer residential communities like Stellar at Emerald Hills, which boasts green features and an excellent location, in high demand.”
“We are thrilled to continue to expand our South Florida footprint with the closing of the Stellar at Emerald Hills,” said Jared Frydman, Managing Director and head of the Miami office for JSB Capital Group. “We appreciate the partnership and exceptional dedication of the Berkadia team in helping execute the transaction. This asset underscores our commitment to continue growing our portfolio in this vibrant and dynamic market.”
“We are incredibly proud of what we achieved with Stellar at Emerald Hills,” said Larry Baum, Co-founder of Stellar Communities. “This project reflects our unwavering commitment to sustainability, innovation, and delivering exceptional living spaces. With its eco-smart features and thoughtfully designed amenities, Stellar at Emerald Hills represents the future of modern multifamily living. We also thoroughly enjoyed working with Roberto Pesant and the entire Berkadia team, whose expertise and professionalism were instrumental in the success of this transaction. We are confident that JSB Capital Group will continue to enhance the community and build upon its success.”
Stellar at Emerald Hills was built in 2022 and features 197 one-, two-, and three-bedroom units in three three-story buildings on a 7.2-acre site. Individual apartments offer eco-smart home features, in-unit washers and dryers, private balconies, soaking tubs, stainless steel appliances, bay windows, and more. Community amenities include a clubhouse, fitness center with a yoga and spin studio, business center, pet play area, pet washing station, sundeck and pool, bike storage, and more.
Located at 5840 Lakeshore Drive, the property affords convenient access to several golf courses, shopping, dining, and entertainment destinations, and beaches. It is conveniently located between Interstate 95 and Florida’s Turnpike, giving residents access to major employment demand drivers like Nova Southeastern University, Dania Pointe, Fort Lauderdale-Hollywood International Airport, Seminole Hardrock Hotel and Casino, and more.
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
