Tuesday, June 23, 2015

CBRE Closes $23.65 Million Sale of Altamonte Springs, FL Apartment Communituy


Lakeshore Apartment Homes, Altamonte Springs, FL
Orlando, FL– CBRE Capital Markets arranged the sale of Lakeshore Apartment Homes, a 224-unit rental community in the Altamonte Springs area of Orlando.

Located at 210 Altamonte Bay Circle, the lakeside property was acquired from a private equity group based in Denver by a Canadian investment firm for $23.65 million.

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

“Seminole County and Altamonte Springs are highly coveted by multifamily investors due to the excellent public schools and proximity to major white-collar employers,” said Mr. Granade, Executive Vice President of CBRE Capital Markets, Multifamily.

“The Lakeshore sale was particularly competitive given its premier location on Lake Orienta, and the asset’s strong potential for increased net operating income long-term through modest property enhancements.”

Luke Wickham
Currently 97% occupied, Lakeshore is situated on the 142-acre recreational lake, Lake Orienta, just 15 minutes from downtown Orlando.

 Built in 1986, the community offers scenic water views and amenities that include two clubhouses, a fitness center, tennis court and a resort-style pool.

The property is located within walking distance to a Publix Super Markets-anchored shopping center, the Altamonte Mall, Crane’s Roost Park and Florida Hospital Altamonte.

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

Elizabeth Cross or Daniel Jimenez
+1 305 428 6373 +1 407 839 3191
 daniel.jimenez@cbre.com

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