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Brookfield Acquires Apartments for $73M

ORLANDO-Brookfield is buying the Villa Tuscany Apartments in Orlando for $40 million and the Deerwood Village apartments in Ocala for $32.89 million.

By Natalie Keith | Updated on January 16, 2008

(Read more on the multifamily market.)

ORLANDO-New York-based Brookfield Real Estate Management has acquired two apartment communities in Orlando and Ocala as part of a portfolio for $72.9 million. The communities acquired were the 342-unit Villa Tuscany Apartments at 753 Sherwood Terrace Drive in Orlando for $40 million, or $116,959 per unit, and the 328-unit Deerwood Village apartments at 1850 SE 18th Ave. in Ocala for $32.89 million, or $100,280 per unit.

The seller was New York-based Terragon Corp. Cushman & Wakefield senior director Jay Ballard was the lead broker in the sale, and senior directors Hal Warren and Enon Winkler, of Orlando, and Byron Moger, executive director in the Tampa office of Cushman & Wakefield, negotiated the transaction.

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