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| 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. “
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| 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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