The 376-unit apartment development was purchased for $71 million.
Rory Shelby, Scott Gould, and Christopher Biuso, investment specialists in Marcus & Millichap’s Orlando office, had the exclusive listing to market the property on behalf of the seller, MPV Properties.
M&M’s Scott Gould, Chris Biuso, Rory Shelby and Spencer Koch represented the buyer in the transaction.
Ken Hobson, senior associate in Marcus & Millichap’s Orlando office, represented the seller and procured the buyer in the transaction.
They join CBRE from Marcus & Millichap’s Net Lease group.
Marcus & Millichap represented the undisclosed seller in the transaction. Flavia Kanyago of CrossMarc will handle leasing at the center.
In alignment with Avanath’s mission to acquire, own, renovate, and operate affordable and value-oriented communities, 131 of 266 units are designated affordable, with the property’s rent restrictions continuing until 2050.
The property sold for $6,750,000 million.
Ray Turchi and David Vaughan in Marcus & Millichap’s Orlando office had the exclusive listing to market the property on behalf of the seller, a private New York investor.
The property is situated in a prime location next to ICON Park and approximately 2 miles from Universal Studios, the Orange County Convention Center, Universal CityWalk Orlando, SeaWorld and numerous other world-class attractions.
CRE-sources, Inc. is committed to ensuring that individuals with disabilities can access all of the goods, services, facilities, privileges, advantages, and accommodations that we offer through our website.
If you are having trouble accessing the website, please call us at 954.290.3866 for assistance.