Wednesday, June 17, 2015

CBRE Capital Markets Arranges $12.75 Million Sale of Marbella Lakes Apartments in Orlando, FL


Luke Wickham
Orlando, FL – June 15, 2015 – Shelton Granade, Luke Wickham, and Justin Basquill of CBRE
Capital Markets arranged the sale of Marbella Lakes, a 200-unit apartment community in
Orlando, Florida.

The gated community, located at 1980 Lake Fountain Drive, was acquired from IMT Residential by Blue Rock Partners for $12.75 million. CBRE exclusively represented the seller in the transaction.

“Downtown Orlando is booming, and that growth has had a tremendous ripple effect on the
surrounding submarkets,” said Mr. Granade, Executive Vice President of CBRE Capital
Markets, Multifamily. 

”Marbella Lakes is just 10 minutes from downtown in a high-demand rental area, and is a prime candidate to add value through minor property upgrades to the unit interiors and amenities.”

Marbella Lakes was built in 1985, and has a current occupancy of 95%. The property is
conveniently located near the exclusive Mall at Millenia and Universal Studios Resort and
Theme Park. Community amenities include a fitness center, laundry facility, large clubhouse,
and a resort-style swimming pool.

Granade, Wickham and Basquill have closed more than $2 billion in multifamily sales in
Central Florida from 2013 to date.

 For a complete copy of the company’s news release, please contact:

Elizabeth Cross
305.428.6373

Daniel Jimenez
407.839.3191

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