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| Harbor at Lake Howell Apartments, Casselberry, FL |
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| Shelton Granade |
ORLANDO,
FL -- CBRE is pleased to announce that it has sold the
Harbor at
Lake Howell apartments in Casselberry for $40,000,000. This
408-unit rental community was built in 1991, and was 94% occupied at closing.
Shelton Granade, Luke Wickham,
and Justin Basquill of CBRE’s Orlando office exclusively
represented the seller in the transaction.
Harbor
at Lake Howell offers 1, 2, and 3 bedroom units averaging 1,065 SF with resort-style
amenities including two swimming pools, a fitness center, and a tennis court.
The property is located on a 450-acre recreational lake (Lake Howell), and features
a private boat ramp on site.
 |
| Luke Wickham |
The new owner, an owner/operator out of
Atlanta, intends to implement a value add strategy to improve the property and
increase the rents.
CBRE’s
Central Florida Multi-Housing Group continues to be the market leader, and has closed more than $815,000,000 in the Orlando MSA in the
last 14 months.
 |
| Justin Baquill |
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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