Pollack Bets Big on Florida Multifamily Development

By Jennifer LeClaire, GlobeSt.com

ORLANDO—Pollack Shores Real Estate Group calls Atlanta home, but the firm does plenty of business across the Southeast and has taken a special liking to Florida. Nearly half its bets are in the Sunshine State.

Pollack recently broke ground on Marisol at Viera, a 282-unit luxury multifamily community in Brevard County’s Viera, FL. The multifamily development brings the firm’s Florida portfolio to over 4,400 apartment units with a total capitalization of over $550 million. That says a lot, given the company’s entire portfolio is about 10,600 units representing over $1.3 billion in total assets.

“We are very excited to kick off Marisol at Viera as part of the growing Viera community,” Michael Blair, managing director at Pollack, tells GlobeSt.com. “We feel that the residents in the area are looking for the convenience of a walkable community, upscale finishes and high-end amenities, all of which can be found here.”

Marisol at Viera is part of the master-planned community called Viera, which sits along Interstate 95 and offers easy access to area beaches, Melbourne and Cocoa Beach. Viera is the vision of the Duda family to build an entire community, which began to take shape in the mid-1980s.

Marisol at Viera is set to have units available by April of 2016. Final completion is set planned for October of 2016. Matrix Residential, the multifamily residential management division of Pollack Shores, will manage the apartment community.

Pollack is staying busy in Florida. The firm’s other recent projects in the state include M North, a 288-unit multifamily community under development in Orlando Steelhouse, a 326-unit community in Orlando that opened in 2013; Noho Flats, a 331-unit urban development in Tampa, FL that is beginning its second phase of development and Solaris Key, a 426-unit waterfront community in Clearwater, FL.

The firm also completed construction on Gateway North, a luxury 342-unit community in Largo, FL in December 2014. Gateway North was Largo’s first new luxury apartments to open in 20 years.

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