Cushman & Wakefield Arranges Sale Of Daytona Apartment Community
Mike Donaldson and Nick Meoli of Cushman & Wakefield represented both the seller and buyer in the transaction.
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Mike Donaldson and Nick Meoli of Cushman & Wakefield represented both the seller and buyer in the transaction.
Ray Turchi and David Vaughan in Marcus & Millichap’s Orlando office had the exclusive listing to market the property on behalf of the seller, a private New York investor.
José Lobón, Trey Barry, Frank Fallon and Royce Rose with CBRE Capital Markets, represented the seller with the assistance of CBRE’s David Murphy.
Stiles has added four new-to-market tenants in the last year at Marketplace at Altamonte, which is now 90% leased.
Kent Cooper, CCIM, a CFCAR past president, was awarded Deal of the Year and 17 other awards were presented.
Axiom Capital Corp. has structured and arranged a $6.1-million permanent loan (10-year, fixed rate, non-recourse) for the acquisition.
EDEN plans to break ground in June 2022 and expects to complete the project in September 2023.
The center is 100% leased with notable tenants such as Petco, Ross, Marshalls, Five Below and Bed Bath and Beyond. In June, a Sprouts store and ULTA will move in.
The property is situated on 19.3 acres about a quarter mile from Interstate 4.
The Chatham Square acquisition brings the Partnership’s total investment into Florida over the past year to over $330,000,000 and 1,200 units.
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