Thursday, February 11, 2016

CBRE Arranges $42 Million Sale of Luxury Apartments in Orlando, FL

Shelton Granade
Orlando, FL –– Shelton Granade, Luke Wickham, and Justin Basquill of CBRE Investment Properties arranged the sale of The Glenn, a luxury apartment community at 10801 Heather Ridge Circle in Orlando, Florida.

he 396-unit complex was acquired from Heather Glen Holding Company LLC by Insula Companies for $42 million. CBRE provided exclusive representation to the seller.

“Although community amenities and exterior features of The Glenn were extensively upgraded in recent years, the interiors still presented the new ownership with a great value-add opportunity,”  said Mr. Granade, CBRE Vice Chairman.

“As an added attraction, this well-appointed community occupies a very high-demand location near the University of Central Florida,”

The Glenn features three pools with sundeck and tanning areas, a clubhouse, sand volleyball, and a newly constructed 2,500-square-foot fitness center with spin and yoga room. Constructed in 1986 and updated in 2014-15, the community was 95% occupied at closing.

Mr. Granade and his Central Florida Multi-Housing team have executed more than $6 billion in apartment transactions in the Orlando area.

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

Elizabeth Cross
Daniel Jimenez
+1 305 428 6373
+1 407 839 3191

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