Tuesday, April 5, 2011

CB Richard Ellis Central Florida Multi-Housing Group Closes 2 Sales Valued Over $60 Million

ORLANDO, FL--The CB Richard Ellis Central Florida Multi-Housing Group is pleased to announce two more Central Florida multi-housing sales – Marina Grande (top left photo) and Quiet Waters (lower right photo).

The transactions totaled more than $60,000,000, and are a further testament to the recovery of the multi-housing sector.

Built in 2007, Marina Grande features twin luxury high-rise residential towers on the Intracoastal Waterway in the Daytona Beach area. This 486-unit asset was built as condominiums, and the remaining 414 units were sold in bulk.

Quiet Waters, which is located in the Sanford suburb of Orlando, sold to another buyer in a separate transaction.

That rental community was completed in 1965 and features barrel tile roofs and wood floors in unit interiors. Shelton Granade and Luke Wickham of CBRE’s Central Florida Multi-Housing Group exclusively advised the sellers on both deals.

CBRE continues to generate strong interest in the Orlando market, and has sold more than $110,000,000 in local multi-housing assets thus far in 2011.

Shelton Granade, T 407.839.3103, shelton.granade@cbre.com
Luke Wickham, T 407.839.3130, luke.wickham@cbre.com

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