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| Eastbrook Apartments, Eastbrook Boulevard, Winter Park, FL |
ORLANDO, FL – Orlando-based Smith Equities Real Estate
Investment Advisors “SEREIA” recently arranged the sale of an apartment
community located east of Semoran Boulevard that serves the Winter Park,
Florida market.
Eastbrook Apartments, built in 1968, is a 29 unit
community located on the corner of Howell Branch Road and Eastbrook Boulevard
in Winter Park. There are two buildings, one on each side of Eastbrook
Boulevard. The property has some of the largest floor plans in the submarket
with a good mix of 1 and 2 bedroom units.
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| R. Derek Smith |
R. Derek Smith of Smith Equities was the exclusive
listing broker for the seller.
“This property was in a situation where it was advantageous
to hold on the market while working with the seller to reposition for a sale,”
stated Mr. Smith.
“In working with the seller strategically, we were able to
increase the NOI by over 30% in the course of a year. We are thrilled that we
could facilitate a deal in which both the seller and purchaser got exactly what
they wanted.”
The seller, Mr. Berry Long added: “Every month that
passed the cash flow went up and so did the offers. Derek was tremendous to
work with. No detail was too small for him to work on. His advice and guidance
proved invaluable in this sale.”
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| Robert E. Smith |
“We are happy to
continue a relationship with the seller that spans over 21 years, the seller
has asked Smith Equities to help him locate a replacement property in Orlando,”
said Robert E. Smith, CCIM, president and founder of Smith Equities Real
Estate Investment Advisors.
This is the second time Smith Equities has brokered
Eastbrook Apartments, having sold it originally to Mr. Long in 1998.
For a complete copy of the company’s news release, please
contact:
R. Derek Smith
407.422.0704, ext. 112
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