 |
| Sun Lake Apartment Homes, 420 Sun Lake Circle, Lake Mary, FL |
 |
| Shelton Granade |
Orlando, FL – Shelton
Granade, Luke Wickham, and Justin Basquill of CBRE Capital Markets arranged
the sale of Sun Lake Apartment Homes, a 600-unit luxury apartment
community in Lake Mary, Florida to Ecoventures Capital Fund, LLC for
$66.25million.
Located at 420 Sun Lake Circle, the transaction was the
second largest apartment complex sale in Greater Orlando in 2014.
CBRE’s Granade, Wickham and Basquill worked on behalf of
Harbor Group International (HGI), a leading global private investment firm with
a portfolio valued at approximately $4.2 billion. Sun Lake was acquired by an
HGI affiliate in 2012.
“Sun Lake attracted very competitive bidding from several
large investment groups that resulted in one of the year’s largest transactions
in Orlandom” said Granade, Executive Vice President of CBRE Capital Markets,
Multifamily.
 |
| Luke Wickham |
“The property has a unique location on Greenwood Lake in the
prestigious Lake Mary neighborhood, and draws an excellent tenantbase due to
its proximity to retail, dining, and major white-collar employers.”
Sun Lake is comprised of 26 two-and three-story residential
buildings and a clubhouse with fitness and business centers.
With more than $1 0
million in capital upgrades completed in recent years, this “best-in-class”
asset was built in 1988 and was 96 percent occupied at closing.
Located across the street from Northpoint Office Park and
just a few minutes from major employment centers such as the Primera and Lake
Mary Heathrow Office Parks, the lakefront community features fishing, kayaking
and paddle boarding from the property’s pier.
Granade, Wickham and Basquill have closed approximately $1.6
billion in multifamily sales in Central Florida from 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
No comments:
Post a Comment