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| Vizcaya Lakes Apartments, Ocoee, FL |
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| Gerald Smith |
The 522 unit Vizcaya Lakes Apartments was sold for an
undisclosed price. Vizcaya Lakes was built in 1998.
Amenities include
Lakefront views on Lake Lotta, Playground, Bark Park, WiFi Coffee Café, Picnic
Areas with BBQ Grills, Lush Landscaping, 24 Hr State of the Art Fitness Center,
Newly Designed Clubhouse, Kid's Zone, Two Swimming Pools, Clubhouse, Clothes
Care Center, Sports Court, and a Gazebo with Fishing Pier on Lake Lotta.
Gerald Smith, Senior Investment Advisor for Smith
Equities Real Estate Investment Advisors brokered the deal. The Seller was V.L. Apartments Master,
LLC. The Buyer was Landmark Apartment
Trust of America Holdings, LP, a Virginia limited partnership.
“The continued
improvement in the multifamily rental market over the past 18 months has
resulted in the highest occupancy since the real estate boom in 2005/2006” said
Gerald Smith.
Vizcaya Lakes was 98% occupied at closing. “Given the strong rental market demand and
with interest rates beginning to trend higher, we see the opportunity for
buyers and sellers to capitalize on the current fundamentals in the
market.
“For owners considering disposing of assets over the next 24
months, we believe now is a good time to be making those decisions given the
strong rental market and the inherent risk of interest rates going higher. Likewise for buyers looking to lock in long
term debt at historically low rates we see this as an excellent opportunity to
do so” said Smith.
“Having the technology to assess the market conditions and
provide timely market data to potential buyers and sellers is the key to
successfully closing transactions.
SEREIA is a leader in apartment sales and financing throughout Florida with investment sales and financing of over 27,100 Apartments in over 191 deals. For more information, please visit their website at www.smitheq.com or call (407)422-0704.
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| Robert E. Smith |
SEREIA’s founder, Robert E. Smith, CCIM also founded
the website known as www.MyRentComps.com.
MyRentComps is a national award winning, free online market survey tool, covering over 100,000 apartment properties nationwide. In the
past, apartment personnel spent time and money calling around each week to
similar properties in the area to keep up with current market conditions.
As properties update their information online, the
MyRentComps platform allows instantaneous access to updated comp information
for all participating properties (Click to See Example).
MyRentComps has also partnered with over 22 Local and State
Apartment Associations in 11 states (and counting) to deliver the Free Online
Market Survey through the local Apartment Association.
For more information, please visit their website at
www.MyRentComps.com or call
(407)206-3791.
For a complete
copy of the company’s news release, please contact:
Robert E. Smith,
CCIM
President
Smith Equities Real Estate Investment Advisors
Founder MyRentComps.com
350 East Pine St
Orlando, FL 32801
Tel: (407) 422-0704 X 101
Fax: (407) 422-0705
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