Sunday, April 5, 2015

CBRE Capital Markets Arranges $40.2 Million Sale of New Rental Community in Central Florida


Shelton Granade
Orlando, FL  – CBRE Capital Markets arranged the sale of Whitepalm
Apartment Homes, a new 306-unit luxury apartment community in Port Orange, Florida, about 45 minutes outside of Orlando.

The Class A property, located at 5400 S. Williamson Boulevard, was acquired from Birmingham, Alabama-based LIV Development by Carter-Haston Holdings from Nashville for $40,289,500.

CBRE’s Shelton Granade, Luke Wickham and Justin Basquill represented the seller in the transaction.

“Whitepalm is the fifth pre-stabilized apartment property we have sold recently in Central Florida. Investor interest in newer assets is growing substantially, even before these communities are fully occupied,” said Mr. Granade, Executive Vice President of CBRE Capital Markets, Multifamily. 

Luke Wickham
”Volusia County is in the midst of an impressive economic expansion and the Port Orange area was under-served in terms of luxury apartments.”

Whitepalm was completed in 2014 and is conveniently located in the Daytona Beach area near two of the area’s largest professional employers – Florida Hospital Memorial Medical Center and Halifax Medical Center. 

The gated community offers luxury finishes, such as stainless steel appliances, 9’ ceilings, oversized balconies, stylish cabinetry, and designer counter tops.

 Amenities include a large clubhouse, a resort-style pool with cabanas, a serenity beach fully equipped with hammocks and a state-of-the-art fitness center.

Justin Basquill
Granade, Wickham and Basquill have closed approximately $1.7 billion in multifamily sales in Central Florida from 2013 to date.

For a complete copy of the company’s news release, please contact:
Elizabeth Cross
305.428.6373

Daniel Jimenez
407.839.3191

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