August 16, 2019
Preferred Apartment Communities acquired Artistry at Viera, a newly-constructed, 259-unit multifamily community in Melbourne. The seller and sales price were undisclosed.
Built in 2018, the property is within a 22,000-acre master-planned community located approximately 55 miles southeast of Orlando in the central coastal region of Brevard County. The acquisition increases PAC’s multifamily portfolio to 33 communities across 10 states.
“Coastal Florida markets continue to demonstrate sound investment fundamentals, and Melbourne is no different,” said Jeff Sherman, executive vice president at PAC. “Artistry at Viera is exceptionally well located, surrounded by affluent demographics, and is proximate to top-rated schools, parks, shops and restaurants. The property features high quality interior finishes and a best-in-class amenity package.”
For comments, questions or concerns, please contact David Cohen