ORLANDO—The first phase of Crest at Millenia, a 252-unit class A-plus multifamily community in Orlando, has traded hands. The sale price: $42.8 million.
Cushman & Wakefield executive director Jay Ballard and senior director Ken Delvillar of the firm's Capital Markets Multifamily Advisory Group represented Miami-based seller Lennar Multifamily Communities in the sale. Atlanta-based buyer Centennial Holding Company acquired the asset for $170,000 per unit.
“The first phase of Crest at Millenia generated tremendous interest from the investment community,” Ballard tells GlobeSt.com. “Investors continue to pursue premium assets offering a live-work-play lifestyle in markets with immediate access to recognized employers as well as high-end retail, dining and entertainment.”
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