NEW YORK, June 28, 2024 — Journey Capital, a New York-based real estate investment platform focused exclusively on institutional-quality multifamily acquisitions, today announced the acquisition of The Artisan at Viera, a 259-unit multifamily community built in 2018 and located in Melbourne, Florida within the Viera submarket along the Space Coast. Viera is an award-winning master-planned community distinguished by strong demographics, luxury retail, and proximity to major employment centers. The acquisition was announced by Peter Calatozzo, Managing Partner, and Josh Kogel, Managing Director. The Artisan at Viera represents Journey Capital’s fifth acquisition in Florida and its second in Brevard County.
“The Artisan at Viera is exactly the kind of asset that defines our strategy, a high-quality, newer-vintage community in a supply-constrained, high-growth submarket with an exceptional quality of life,” said Peter Calatozzo. “The Space Coast continues to attract talent and investment at a remarkable pace, and we are confident in the long-term trajectory of this market.”
The Artisan at Viera reflects Journey Capital’s core investment thesis: acquiring institutional-quality multifamily assets in supply-constrained markets with durable demand drivers. The property’s submarket benefits from limited new development, access to major retail and employment centers, a highly-rated school system, and a resident base employed across resilient industries including healthcare, education, and engineering — supporting strong incomes and healthy rent-to-income ratios.
The property’s proximity to I-95 provides residents with efficient access to the region’s major defense and aerospace employers, including L3Harris, Northrop Grumman, and Patrick Space Force Base, which together represent more than 40,000 regional jobs. The Florida Institute of Technology and Eastern Florida State College further anchor the submarket, with a combined enrollment of approximately 23,000 students and nearly 2,000 employees.
Residents enjoy access to premier retail and entertainment destinations, including The Avenue Viera and The Shoppes at Lake Andrew, which together offer more than one million square feet of shopping and dining options. Health First’s Viera Hospital — set on a 50-acre campus — and Holmes Regional Medical Center provide significant healthcare infrastructure, quality employment, and community services.
The property comprises three three-story buildings with apartment interiors featuring private patios or balconies, in-unit laundry, stainless steel appliances, granite countertops, wood plank flooring, and smart thermostats. Community amenities include a swimming pool with cabanas, a two-story fitness center, a dog park and pet spa, a resident clubhouse, a carwash, an outdoor kitchen and game area, a pickleball court, and a putting green.
About Journey Capital
Journey Capital is a real estate investment manager that utilizes a comprehensive data driven approach to identify attractive investment opportunities with the objective of optimizing value for investors. We believe that demographic trends and structural shifts to behavioral patterns will drive demand for certain real estate throughout the United States. We seek to capitalize on this investment philosophy in markets where we have a high level of conviction. Journey Capital will acquire, develop, and asset manage multifamily, industrial, and mixed-use properties throughout the United States. For more information, please visit www.journeycapitalrealestate.com.
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Journey Capital Acquires Knightsbridge at Stoneybrook in Orlando, Florida
Journey Capital, a New York-based real estate investment platform focused exclusively on institutional-quality multifamily acquisitions, today announced the acquisition of Knightsbridge at Stoneybrook, a 396-unit multifamily community located in Orlando, Florida within the East Orange County submarket.
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