January 2, 2017
Pollack Shores sold the 282-unit Marisol at Viera, a Class A multifamily property in Melbourne, FL to Passco Cos. for $50.3 million. The asset is within Viera, a high-end, 22,000-acre master-planned community on Florida’s east coast. The buy is Passco’s first in the market, and the California investor’s third in Florida during 2016.
Ken Delvillar and Jay Ballard at Cushman & Wakefield brokered the transaction. Chris Black of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing for Passco Companies through Fannie Mae.
Marisol at Viera is at 2439 Casona Lane, and offers one, two, and three-bedroom units ranging from 624 to 1,380 square feet. Amenities include two poolside bars and outdoor kitchens, a private club and amenities deck, a 6,500-square-foot dog park with outdoor grooming station and electric car charging stations.
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