 |
| 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
No comments:
Post a Comment