Tuesday, May 29, 2012

ARA’s Central and North Florida Team Executes Institutional Sale in Seminole County



 Casselberry, FL ( May 29, 2012) — The Orlando office of Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, recently brokered the sale of Newport Colony, a 476-unit garden apartment community located in one of the strongest submarkets in Central Florida, East Altamonte/Casselberry.

The Central Florida-based sales team of Principal Kevin Judd (lower left photo), Patrick Dufour and Matt Wilcox, represented a real estate investment advisor in the sale.

 IMT Capital, LLC, a private real estate investment and management company, together with its affiliate IMT Residential, a leading nationwide apartment operator with multi-family properties that extend throughout California, Arizona, Texas, and Florida, acquired Newport Colony for an undisclosed amount.

Constructed in 1991, Newport Colony has undergone significant capital improvements since 2005, including replacement of all roofs, the addition of new cement board siding, installation of new gutters and an additional 80 balconies on 1BR floor plans.

For a complete copy of the company’s news release and to schedule an interview with an ARA executive regarding this transaction, please contact:

Lisa Robinson at lrobinson@ARAusa.com, 678.553.9360 or
Amy Morris at amorris@ARAusa.com, 678.553.9366; or
Marti Zenor at mzenor@ARAusa.com or 561.988.8800.



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