Friday, June 21, 2019

Hold-Thyssen Negotiates $9.65 Million Sale of 47-Year Old Apartment Complex in Winter Park, FL

Robert P. Hold
WINTER PARK, FL  --- Robert P. Hold, principal at Hold-Thyssen, Inc., negotiated a sale of the 97-unit Evergreen Apartments in Winter Park .  

The value-add multi-family property built in 1972 that operated more than four decades at or over 95 percent occupancy recently sold for $9,650,000 or $99,484 per unit.

Hold purchased the property with partners for $725,200 in 1977 when the one-bedroom apartments were known as the place where the Minnesota Twins stayed during spring training.  The most recent asking rents have been in the $800 per month range, Hold said.

Cole Whitaker
The buyer, an affiliate of  Massachusetts-based Aspen Square Management who invests in value-add multi-family opportunities, plans to completely renovate the entire interior and exterior of the complex. 

Cole Whitaker of Berkadia Real Estate Advisors represented the buyer in the transaction. 

Hold-Thyssen Inc. is a full service commercial property firm that provides commercial property brokerage, leasing and management services to institutional and private investor clients nationwide. 

The 40-year old firm’s current management portfolio includes more that 100 commercial properties throughout the United States .


Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 

No comments: