Friday, January 9, 2015

CBRE Orlando Closes $14.3 Million Apartment Sale in Deland, FL About Two Miles from Stetson University


Madison Carrington Place Apartments, 129 East Villa Capri Circle, Deland, FL


Shelton Granade
Orlando, FL – CBRE arranged the sale of Madison Carrington Place, located at 129 E. Villa Capri Circle, Deland, FL, for $14.3 million.

The 224-unit apartment community was completed in 1987 and has a current occupancy of 97%. CBRE exclusively represented the seller in the transaction, Equus Capital Partners, LTD.

“Investor interest in good tertiary markets like Deland has been steadily increasing, “said
Shelton Granade, Executive Vice President of CBRE Capital Markets, Multifamily.

 “Buyers canget more yield, and there's a powerful job story emerging in Volusia County with advances in health care and education employment.”

Located just one mile from historic downtown Deland and only minutes from Stetson University,
Florida Hospital DeLand and the Florida Hospital Fish Memorial, the community features
amenities such as a large pool and sun deck, business center, fitness center, lighted tennis,volleyball and recreation courts, car care center and private patios/balconies.

Shelton Granade, Luke Wickham, and Justin Basquill led the sales effort for CBRE, and have
closed approximately $1.6 billion in apartment sales in Central Florida since 2013 to date.
CBRE Group, Inc.


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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