Waypoint Residential Sells Two Apartment Communities on Florida’s Space Coast Totaling 576 Units

Waypoint Residential has sold two garden-style multifamily communities located along Florida’s Space Coast.

Houston-based Venterra Realty purchased the properties — the 276-unit Tomoka Pointe in Daytona Beach and the 300-unit Luminary at 95 in West Melbourne — for an undisclosed price.

Scott Ramey, Brad Downing and Paul Grant of Newmark represented the Boca Raton, Fla.-based seller in the transaction. Both properties were constructed in 2019 and had a blended occupancy of 95 percent at the time of sale.

Waypoint Residential acquired both assets in 2020.

Source:  RE Business