Smith Equities Real Estate Investment Advisors Sells 522-Unit Vizcaya Lakes Apartments in Ocoee, FL

  

Vizcaya Lakes Apartments, Ocoee, FL

Gerald Smith

ORLANDO, FL – Smith Equities Real Estate Investment Advisors is pleased to announce it brokered the sale of the Vizcaya Lakes Apartments located in Ocoee, FL (9 miles west of Downtown Orlando).

The 522 unit Vizcaya Lakes Apartments was sold for an undisclosed price. Vizcaya Lakes was built in 1998.

 Amenities include Lakefront views on Lake Lotta, Playground, Bark Park, WiFi Coffee Café, Picnic Areas with BBQ Grills, Lush Landscaping, 24 Hr State of the Art Fitness Center, Newly Designed Clubhouse, Kid's Zone, Two Swimming Pools, Clubhouse, Clothes Care Center, Sports Court, and a Gazebo with Fishing Pier on Lake Lotta.

Gerald Smith, Senior Investment Advisor for Smith Equities Real Estate Investment Advisors brokered the deal.  The Seller was V.L. Apartments Master, LLC.  The Buyer was Landmark Apartment Trust of America Holdings, LP, a Virginia limited partnership.

 “The continued improvement in the multifamily rental market over the past 18 months has resulted in the highest occupancy since the real estate boom in 2005/2006” said Gerald Smith. 

Vizcaya Lakes was 98% occupied at closing.  “Given the strong rental market demand and with interest rates beginning to trend higher, we see the opportunity for buyers and sellers to capitalize on the current fundamentals in the market. 

“For owners considering disposing of assets over the next 24 months, we believe now is a good time to be making those decisions given the strong rental market and the inherent risk of interest rates going higher.   Likewise for buyers looking to lock in long term debt at historically low rates we see this as an excellent opportunity to do so” said Smith. 

“Having the technology to assess the market conditions and provide timely market data to potential buyers and sellers is the key to successfully closing transactions. 

“As a boutique brokerage specialized in multifamily investments, the brokerage technology we have developed allows us to immediately distribute detailed information about an investment opportunity to buyers that we know would be interested in a particular type of asset.” says Gerald Smith, Senior Investment Advisor for Smith Equities.

Founded in 1990, Smith Equities Real Estate Investment Advisors (SEREIA) is a "boutique" Multifamily Real Estate Brokerage firm that uses its own proprietary industry-leading technology and experienced senior multifamily real estate advisors to represent our client’s needs.

SEREIA is a leader in apartment sales and financing throughout Florida with investment sales and financing of over 27,100 Apartments in over 191 deals. For more information, please visit their website at www.smitheq.com or call (407)422-0704.

Robert E. Smith

SEREIA’s founder, Robert E. Smith, CCIM also founded the website known as www.MyRentComps.com.

MyRentComps is a national award winning, free online market survey tool, covering over 100,000 apartment properties nationwide. In the past, apartment personnel spent time and money calling around each week to similar properties in the area to keep up with current market conditions. 

As properties update their information online, the MyRentComps platform allows instantaneous access to updated comp information for all participating properties (Click to See Example).

MyRentComps has also partnered with over 22 Local and State Apartment Associations in 11 states (and counting) to deliver the Free Online Market Survey through the local Apartment Association.

For more information, please visit their website at www.MyRentComps.com  or call (407)206-3791.

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

 Robert E. Smith, CCIM

President

Smith Equities Real Estate Investment Advisors

Founder MyRentComps.com

350 East Pine St

Orlando, FL 32801

Tel: (407) 422-0704 X 101

Fax: (407) 422-0705

Email: RSmith@SmithEq.com

Websites: www.SmithEq.com | www.MyRentComps.com |