ORLANDO-One hundred fifty-five units at the Oasis at Pearl Lake condominiums sold for $6.8 million in a bulk sale. The 316-unit property is located in Altamonte Springs at 1037 Alden Parkway.

Peter Mekras, vice president at Continental Real Estate Companies (CREC), represented both the seller and buyer in the transaction. The all-cash buyer was Oasis Orlando Real Estate, LLC, an affiliate of a Miami-based real estate investment firm. The units were sold arms length by a South Florida-based condominium converter. The buyer’s legal counsel was Jose Luis Machado of Machado and Herran, PA and Diane Karst of Broad and Cassel represented the seller.

“The seller sold about half the property to individual unit owners and investors in late 2006,” Mekras tells GlobeSt.com. “After the sales effort stalled in 2009, the units were offered as rentals and the seller kept the property at a high occupancy rate until they decided there was an opportune time to do a bulk sale.”