Berkadia, a leader in the commercial real estate industry, announces that Berkadia Central & North Florida posted strong performance in 2024, arranging $754 million in multifamily property and land sales across the region.
Berkadia Central & North Florida provides commercial property owners with a fully integrated capital markets and sales platform, with expertise in Tampa, Orlando and Jacksonville, along with the Florida Panhandle and Space Coast markets. The team consists of Senior Managing Directors Cole Whitaker, Jason Stanton and Matt Mitchell; Managing Directors Brett Moss and David Etchison; Senior Directors Greg Rainey and Tyler Swidler; and Directors Mary Beale and Chris Burtner.
According to the Berkadia 2025 National Multifamily Outlook, Orlando rents are expected to advance 3.9% by the end of the year – placing it in the top ten markets for rent growth in 2025 – while rents in Tampa and Jacksonville are expected to advance 2% and 3.2%, respectively.
Noteworthy Berkadia Central & North Florida transactions from 2024 included:
- The sale of the 248-unit Ivy Residences in Orlando to Blackstone. Berkadia marketed the property on behalf of Canadian multifamily investment firm Frankforter Group.
- The sale of The Drake at St. Pete, a 477-unit multifamily property located in St. Petersburg.
- The forward-sale of Marisol, a 172-unit build-to-rent community in Bradenton, on behalf of Neal Communities, to an institutional investor advised by J.P. Morgan Global Alternatives.
- The $64.3 million sale of Cocoa Grand, a 268-unit community in Cocoa, on behalf of Alabama-based TrimCor. It was purchased by a joint venture led by Sinatra & Co.
- The $79.2 million sale of The Residences at Sweetbay in Panama City.
- The sale of Westwood Apartments, a 256-unit multifamily property located in Jacksonville, on behalf of Interwest Capital of La Jolla, California. The property was sold to the Jacksonville Housing Authority, with assistance from their Atlanta-based development partner, The Integral Group.
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 land sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
