Cushman & Wakefield Negotiates $47 Million Multifamily Sale

Cushman & Wakefield has negotiated the sale of Advenir at Broadwater, a 408-unit suburban multifamily apartment community in Orlando. Senior Directors Jay Ballard and Ken Delvillar represented Advenir in the disposition. Emma Capital acquired the asset for $47 million. Advenir at Broadwater is a 408-unit, two-story suburban garden multifamily community built in 1988 on 22.9 acres at 6677 Tanglewood Bay Drive in Orlando. The property is centrally located in the heart of Orlando’s tourist/commercial corridor with visibility along International Drive and Westwood Boulevard. The property gives residents easy access to Orlando’s theme parks and Central Florida shopping destinations. Community amenities include two resort-style swimming pools and spas, a renovated clubhouse, a fitness center with free weights, a racquetball court, a business center, picnic areas, grilling station, Bark Park and on-site management. This is the first Central Florida acquisition for Emma Capital, which assumed a Freddie Mac loan with six years remaining. Emma Capital will continue to execute a value-add renovation program on approximately 50 percent of the non-upgraded units.  

“Advenir at Broadwater was an affordable alternative to the abundant pipeline of new multifamily construction in greater Orlando,” said Ballard. “This is a value-add opportunity in a premium location, with excellent access to all that Orlando has to offer.”

 

————————

Get the latest industry news and information from CRE-sources delivered right to your email inbox!

Click Here To Subscribe Today!

]]>

Share and Enjoy:
  • Print
  • Facebook
  • LinkedIn
  • Twitter
 

-------------------------

Get the latest industry news and information from CRE-sources delivered right to your email inbox!

And we promise…no more than one email each morning.

CLICK HERE TO SUBSCRIBE TODAY!

 
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.