Vibrant Media Productions, LLC produced the marketing video for the Haven in West Melbourne project, helping result in a $53.5 million sale by CA-based investor Passco Companies, LLC
Senior Director Jay Ballard and Senior Director Ken Delvillar of Cushman & Wakefield’s Orlando Capital Markets Multifamily Advisory Group represented Columbus, GA-based seller Flournoy Companies in the disposition. Irvine, CA-based investor Passco Companies, LLC acquired the asset for $53.25 million ($158,482 per unit).
The Haven was developed in 2010 on a ±23.0-acre site at 4550 Explorer Drive. The community comprises a mix of one-, two- and three-bedroom apartments. The average unit is 1,115 square feet. At the time of sale, the average rent at The Haven was $1,217, and the property was 95 percent leased.