Cushman & Wakefield has brokered the sale of a five-property multifamily portfolio totaling 1,011 apartment units in Orlando and Tampa. The sales price was $101.2 million.
The sellers, Amzak Capital Management and The Focus Group, had invested $9 million in recent capital expenditures and renovated approximately half of the units in the portfolio. The locations of the properties were not disclosed.
Mike Donaldson and Nick Meoli of Cushman & Wakefield represented the sellers in the transaction.
Privately held real estate investment and management firm DASMEN Residential acquired the portfolio. DASMEN entered Florida last year with the Orlando on the Lake apartment community, of which Donaldson and Meoli arranged the sale.
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.