IPA Arranges $55M Sale Of Altamonte Springs MF Property

Institutional Property Advisors has brokered the sale of Latitude 28, a 354-unit multifamily property located in Altamonte Springs, a suburb of Orlando.

The property traded for $54.7 million.

Latitude 28 is located at 850 Orienta Ave. in the northern portion of the Orlando MSA. Approximately 25% of the units were recently renovated by the seller and new ownership intends to make further improvements to the interiors and amenities.

Shelton Granade, Luke Wickham and Justin Basquill of IPA represented the seller, Lighthouse Group. The buyer was The Aberly Group.