Mike Donaldson and Nick Meoli of Cushman & Wakefield represented both the seller and buyer in the transaction.
Kent Cooper, CCIM, a CFCAR past president, was awarded Deal of the Year and 17 other awards were presented.
EDEN plans to break ground in June 2022 and expects to complete the project in September 2023.
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.
Built in 2017, the community offers 114 independent living, 73 assisted living and 36 memory care units.
The buyer is planning on developing a mixed-use project on the site. This project will consist of a ground floor retail space with multi-family units built directly above.
Managing Directors Brett Moss and Matt Wilcox, Associate Director Tyler Swidler and Senior Managing Director Cole Whitaker of Berkadia Orlando marketed the property on behalf of Catalyst Development Partners and Six Pines Realty.
Norfolk, Virginia-based Cohen Investment Group sold the property to South Florida-based Terra Equity Group.
The property traded above its initial pricing guidance, reinforcing an unyielding investor appetite for Central Florida multifamily.
Both properties were acquired by Eagle Property Capital Investments, LLC.
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