Avison Young Completes $63.5 Million Acquisition Of 234-Unit Apartment Property In Orlando
Avison Young also assisted in arranging financing on behalf of the buyer, Beverly Hills, California-based Cores Management, Inc.
Avison Young also assisted in arranging financing on behalf of the buyer, Beverly Hills, California-based Cores Management, Inc.
So far this year, American Landmark has acquired more than $1.3 billion in apartment communities throughout the Sunbelt states of Texas, Florida, Georgia, and North and South Carolina, and has a significant presence in the Florida metros of Orlando, Tampa, Jacksonville and South Florida.
Blue Osceola Apartments, LLC, an affiliate of Miami-based Waterstone Capital, acquired the property from an undisclosed seller for $11.45 million.
The transaction was arranged on the Ten-X auction platform.
The project will include 330 residential units, more than 15,000 square feet of commercial space and 145 boat slips, as well as dockside restaurants and a tiki bar.
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.
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