Monday, June 3, 2013

ARA Brokers the Sale of Courtney Villages Located in Lady Lake, FL, the Largest Single-Site Residential Development in the US

  

  Courtney Villages, Lady Lake, FL

 Lady Lake, FL (June 3, 2013) — The Orlando office of Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multi-housing industry, recently brokered the sale of 356-unit Courtney Villages in Lady Lake, Orlando MSA, FL.

Kevin Judd
The ARA Central and North Florida-based sales team, led by Principals, Kevin Judd and Patrick Dufour, along with Senior Vice Presidents Matt Wilcox, represented Orlando, FL-based Contravest in the $30,250,000 sale.  Jacksonville, FL-based GMC Property Management purchased the asset, which was 96% occupied at the time of sale.

GMC Property Management owns and operates multifamily properties in New York, Pennsylvania, North Carolina and Florida, with plans to add additional properties.

Patrick DuFour
The 356-unit Class “A” resort-style garden apartment community is located in the high barrier-to entry northwest section of the Orlando MSA.

 “Courtney Villages’ convenient location in immediate proximity of the The Villages’ active adult community allows residents a vast number of employment options in various high-paying fields,” said Kevin Judd, lead advisor on the transaction.

 “The property is well-positioned to benefit from the growing demand for rentals in the immediate area,” added Patrick Dufour, of ARA’s Tampa office.

Matt Wilcox
The Villages is the largest single-site residential development in the United States spanning over 26,000 acres in three adjoining counties in Central Florida.  The Villages possesses integrated mixed-use developments containing retail, office, and hotels with a planned 2.7 million square feet of space and an astonishing annual average household income of over $84,000.

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

Marti Zenor│ mzenor@ARAusa.com
Director of Marketing
ARA │ Florida
750 Park of Commerce Blvd., Suite 230│ Boca Raton, FL 33487
561.988.8800 x112 Direct │ 954.205.5207 Cell │ 561.988.8810 Fax

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