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.
Michael Regan, Francesco Carriera, Jeff Gray, and Chip Wooten with CBRE represented both the buyer and the seller in the transaction.
The Class A property near Disneyworld is the first multifamily acquisition for the company.
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.
The sale price equates to more than $291,000 per unit.
Newmark’s Senior Managing Director Scott Ramey and Associate Brad Downing represented the seller while Managing Directors Chris Caison and Josh Davis secured $48.1 million in bank financing for the transaction.
Avison Young Senior Vice President Rosendo Caveiro exclusively represented the European-based seller during the sale.
The project is currently under construction and anticipated to open in 2023.
Other phases of the development will include a mixed-use tower with 550 Class-A apartment residences and a boutique hotel. Complementing the development will be retail and restaurant spaces, structured parking garage and a waterfront activity plaza with green space.
The Land Advisors Organization’s Orlando team of Mike Ripley and Steve Flanagan, acting as a transaction broker, arranged the sale of the 17-acre parcel.
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