Saturday, November 8, 2014

CBRE Arranges Sale of Land to Developer for Planned $100 Million Waterfront Multifamily Project in Orlando, FL


Shelton  D. Granade Jr.
Orlando, FL – CBRE arranged the sale of a 10-acre lakefront site located at 1711 and 1887 Jake Street in Orlando’s affluent Baldwin Park submarket, the site of a future planned $100 million luxury lakefront multifamily community.

The property was acquired by Orlando-based ZOM Development Inc. and its joint venture partner AIG Global Real Estate from the Baldwin Newco investment group for $1 6 million.

The land will be developed into a 483-unit rental apartment community to be called Baldwin Harbor. The $16 million cost for the land signifies a per unit price of $33,126, which represents the largest per unit apartment land price in the metropolitan Orlando area since
2008.

“This truly is one of the best development sites in Central Florida, and is a game-changer for the area,” said Shelton Granade, Executive Vice President of CBRE Capital Markets, Multifamily. “

Luke Wickham
Construction is expected to commence in November.

CBRE’s Shelton Granade, Luke Wickham, and Justin Basquill exclusively represented the seller in the transaction, and have closed more than $1.4 billion in apartment sales in Central Florida since 2013 to date.

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

Shelton D. Granade, Jr., Executive Vice President
CBRE | Investment Properties - Multifamily
200 S. Orange Avenue, Suite 2100 | Orlando, FL 32801
T 407 839 3103 F 407 404 5001

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