Built in 1986, the multifamily community offers scenic water views and amenities that include two clubhouses, a fitness center, tennis court, and a resort-style pool. The property is located within walking distance to a Publix Super Markets-anchored shopping center, the Altamonte Mall, Crane's Roost Park, and Florida Hospital Altamonte.

“Seminole County and Altamonte Springs are highly coveted by multifamily investors due to the excellent public schools and proximity to major professional employers,” says Granade. “The Lakeshore sale was particularly competitive given its premier location on Lake Orienta, and the asset's strong potential for increased net operating income long-term through modest property enhancements.”

CBRE also arranged the sale of Barrington Place Apartments, a 233-unit multifamily community in the Oviedo area of Orlando. Financial terms of that deal were not disclosed. Located at 2785 Chaddsford Circle, the multifamily complex was completed in 1998 and is 95% occupied.

Granade, Wickham, Robert Given, and Basquill represented Chicago-based Equity Residential, an apartment REIT with a portfolio of over 100,000 apartment units nationally. The buyer was a private investment group with multifamily holdings across the country, including several properties in Central Florida.

“Investor interest in the UCF-East Orlando corridor has been very strong, driven by employment growth around the University and the surrounding office-research parks,” says Granade. “The property has excellent visibility on heavily-travelled Aloma Avenue near retail, dining and employers.”