Wednesday, October 23, 2013

CBRE Orlando Closes $42,250,000 Apartment Portfolio

  
Millenia West Apartments, Orlando, FL
ORLANDO, FL-- CBRE is pleased to announce that it has sold a Central Florida apartment portfolio for $42,250,000. Completed in 1985/86, the assets sold include Millenia West in Orlando, Berkshires of West Melbourne, Lakeland Landing, and Atlantis Cove in Fort Pierce.

Shelton Granade, Luke Wickham, and Justin Basquill of CBRE’s Orlando office led the assignment, and exclusively represented the seller in the transaction.

The properties offer 1, 2, and 3-bedroom floor plans, and presented strong value-add opportunities to increase income at each community through minor physical and operational enhancements.

Freddie Mac provided financing for the acquisitions. The assets averaged 94% occupancy at closing.

CBRE’s Central Florida Multi-Housing Group continues to be the market leader, and has closed 5,952 units in Central Florida for more than $554,570,000 thus far in 2013.

Lakeland Landing Apartments, Lakeland, FL
For a complete copy of the company’s news release, please contact:

Shelton D. Granade, Jr.,
 Executive Vice President
CBRE | Investment Properties - Multihousing
189 S. Orange Avenue, Suite 1900 | Orlando, FL 32801
T 407 839 3103 F 407 404 5001

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