The plazas total 102,735 square feet.
SRS National Net Lease Group represented both the seller and buyer in the transaction.
Both properties were acquired by Eagle Property Capital Investments, LLC.
David Vaughan and Ray Turchi, investment specialists in Marcus & Millichap’s Orlando office, had the exclusive listing to market the property on behalf of the seller, a private local investor. The buyer, WS Properties of Orange County, LLC, was also procured by Vaughan and Turchi.
The three communities delivered a combined total of 338 new affordable apartments reserved for income-qualifying residents in communities where the demand for affordable housing vastly exceeds the supply.
The acquisition totals 1,242 units.
The Land Advisors Organization’s Orlando office team of Mike Ripley and Steve Flanagan, acting as transaction brokers, arranged the sale.
Managing Directors Brett Moss and Matt Wilcox and Associate Director Tyler Swidler of Berkadia Orlando marketed the property on behalf of the seller, Wood Partners, one of the nation’s largest multifamily real estate developers, based in Atlanta, Ga.
Matt Williams and Kyle Schlitt of Newmark arranged the loan on behalf of TerraCap.
The purchase price equates to $462 per square foot.
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