Mike Donaldson and Nick Meoli of Cushman & Wakefield represented the sellers in the transaction.
Mike Donaldson and Nick Meoli of Cushman & Wakefield represented the seller, Axiom Realty Partners LLC in the transaction. Denny St. Romain, Charles Crapse and Alex Kupp of Cushman & Wakefield represented the buyer.
The team consists of Vice President Chip Wooten and Senior Associate Jeff Gray, who will both transition from within the firm’s Capital Markets team.
The buyer was Southport Financial, one of the largest affordable housing developers/owners in the nation.
The Class A, 192-unit property spans four floors over 188,316 square feet and was purchased by Nuveen Real Estate.
Rand says he is excited to help CFCAR grow and is impressed with the power brokers joining him on the 2021 board of directors.
Construction is expected to take 11 months to complete, with rental applications starting in June 2021.
C&W’s Mike Donaldson and Nick Meoli represented the seller, Lohman Apartments.
Newmark’s Senior Managing Director, Ryan Moody represented the seller in the disposition. TerraCap was represented by Matt Williams and Kyle Schlitt of Newmark’s Debt & Structured Finance group in arranging financing for the acquisition.
Maitland City Centre is a mixed-use community located just north of Orlando, consisting of 244 residential apartments and 33,500 square feet of retail space.