 |
| Luke Wickham |
Orlando, FL
– June 15, 2015 – Shelton Granade, Luke
Wickham, and Justin Basquill of CBRE
Capital
Markets arranged the sale of Marbella Lakes, a 200-unit apartment community in
Orlando,
Florida.
The gated
community, located at 1980 Lake Fountain
Drive, was acquired from IMT
Residential by Blue Rock Partners for $12.75 million. CBRE exclusively represented the seller
in the transaction.
“Downtown
Orlando is booming, and that growth has had a tremendous ripple effect on the
surrounding
submarkets,” said Mr. Granade, Executive Vice President of CBRE Capital
Markets,
Multifamily.
”Marbella Lakes is just 10 minutes from downtown in a high-demand rental area,
and is a prime candidate to add value through minor property upgrades to the
unit interiors
and amenities.”
Marbella
Lakes was built in 1985, and has a current occupancy of 95%. The property is
conveniently
located near the exclusive Mall at Millenia and Universal Studios Resort and
Theme Park.
Community amenities include a fitness center, laundry facility, large
clubhouse,
and a
resort-style swimming pool.
Granade,
Wickham and Basquill have closed more than $2 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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