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| Mirasol at Celebration, Celebration, FL |
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| Jay Ballard |
ORLANDO, FL— Cushman & Wakefield of Florida is pleased
to announce its Orlando-based Multifamily Advisory Services team of Senior
Director Jay Ballard, Associate Director Ken Delvillar and
Associate Lindsey Pfaender recently closed a bulk condominium
transaction at Mirasol at Celebration in Celebration, Florida.
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| Ken Delvillar |
Cushman & Wakefield represented an unnamed financial
institution in the sale of 163 luxury condominium units at Mirasol, a 210-unit,
resort-style, Class A property in the Celebration master-planned community.
The
163 units totaled 234,720 square feet for an average unit size of 1,440 square
feet. The transaction was valued at $33,648,000 — or $206,430 per unit and $143
per square foot.
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| Lindsey Pfaender |
Originally built as a rental community in 2002, Mirasol at
Celebration was converted to condominiums in 2005 after being sold for a
market-record $84 million ($402,000 per unit).
The community was 98 percent
occupied at the time of sale and provided purchaser Levin Realty Advisors, LLC
with the opportunity to obtain the lion's share of local, for sale product.
"This asset represents the largest stock of available
inventory for sale within the Celebration PUD," said Ballard. "Levin
plans to manage the asset for retail sale over the next 24 to 36 months as the
residential market continues to strengthen."
For a complete copy of the company’s news release, please
contact:
David Meyer
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