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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