ORLANDO-Capital groups are taking extra special notice of the Central Florida multihousing market these days. Two apartment communities just sold for $48.34 million, both through Freddie Mac. The combined financing was $35 million.
Shelton Grande of CB Richard Ellis Multi-Housing Group in Orlando sold the Harbours Apartments in Melbourne to WE Harbour LLC, a New York-based group, for $31 million. And ARA Multihousing Investment Services sold Pine Harbour in Orlando for $17.34 million. Both acquisitions mark the buyers first entry into the Central Florida market.
“The apartment fundamentals in the Central Florida market have improved considerably, with average vacancies across many submarkets of less than 6%,” Dennis Jim
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