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ORLANDO-General Real Estate Corp. of Miami Beach has acquired its second apartment community in three months targeted for a quick condo conversion. The converter paid Picerne Development Corp. of suburban Altamonte Springs $36.8 million, or $80,000 per unit, for the 460-unit Harbour Key Apartments. The 17-year-old property is at 5749 Gatlin Ave.

In January, General paid $31.5 million, or $85,948 per unit, for the 32-building, 368-unit Howell Branch Station Apartments in suburban Maitland. The sellers were the Praedium Group LLC and Affirmative Equities Co. LP, both of New York.

Robert W. Miller, a senior vice president in the Orlando office of CB Richard Ellis Inc., participated in both transactions, representing the sellers. Brokers Tyler Anderson and Sean Cunningham of CBRE's Phoenix office worked with Miller on the Harbour Key deal. Picerne represented itself.