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East Orlando Multifamily Trades for $37M

ORLANDO-There were more than 20 offers on the asset, signaling a healthy appetite for assets near the University of Central Florida.

By Jennifer LeClaire | Updated on April 17, 2011

ORLANDO-The Fountains at Waterford Lakes has traded for $37 million, or $92,000 per unit. Built in 2000, the property offers 400 units near the University of Central Florida. The asset is 90% occupied.

Shelton Granade and Luke Wickham of CB Richard Ellis’ Central Florida Multi-Housing Group exclusively represented the seller, Rockville, MD-based Bresler & Reiner. Bresler & Reiner originally bought the units in 2003. Centennial Holding Company acquired the property and was represented in house.

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