 |
| Shelton Granade |
Orlando, FL –– Shelton Granade, Luke Wickham, and Justin
Basquill of CBRE Investment Properties arranged the sale of The Glenn, a luxury apartment community
at 10801 Heather Ridge Circle in Orlando, Florida.
he 396-unit complex was
acquired from Heather Glen Holding Company LLC by Insula Companies for $42
million. CBRE provided exclusive representation to the seller.
“Although community
amenities and exterior features of The Glenn were extensively upgraded in
recent years, the interiors still presented the new ownership with a great
value-add opportunity,” said Mr.
Granade, CBRE Vice Chairman.
“As an added attraction,
this well-appointed community occupies a very high-demand location near the
University of Central Florida,”
The Glenn features three
pools with sundeck and tanning areas, a clubhouse, sand volleyball, and a newly
constructed 2,500-square-foot fitness center with spin and yoga room.
Constructed in 1986 and updated in 2014-15, the community was 95% occupied at
closing.
Mr. Granade and his
Central Florida Multi-Housing team have executed more than $6 billion in
apartment transactions in the Orlando area.
For a complete copy of the company’s news release,
please contact:
Elizabeth Cross
Daniel Jimenez
+1 305 428 6373
+1 407 839 3191
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