CBRE Arranges The Sale Of Multifamily Property In Orlando’s Baldwin Park Neighborhood
Michael Regan, Francesco Carriera, Jeff Gray, and Chip Wooten with CBRE represented both the buyer and the seller in the transaction.
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Michael Regan, Francesco Carriera, Jeff Gray, and Chip Wooten with CBRE represented both the buyer and the seller in the transaction.
C.J. Easton and David Wilf, both acquisition principals with The Easton Group, sourced the deal and put it under contract.
The 75,000-square-foot property Includes 50,000 square feet of office space, warehouse and dock-high loading.
Christopher Passeggiata, David M. Greenberg, Ely Silverstein, and Gabriel Shamay, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller.
The lease marks the Wilmington, Delaware-based aviation parts and distribution company’s first location in Florida.
Construction will commence in November 2021 and the property is expected to deliver in the fourth quarter of 2022.
The Class A property near Disneyworld is the first multifamily acquisition for the company.
The sale was facilitated using the Ten-X auction platform and represented a joint-effort between Avison Young’s Orlando and South Florida offices.
The firm has already hired more than 50 new agents to serve the local market.
The transaction includes a $45.59 million senior loan and $14.75 million in preferred equity.
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