ORLANDO—An upward push in values is causing a market imbalance in the Orlando multifamily market. At least that's what the sale of a 194-unit apartment community (and other sales like it) suggests.
Colonial Ridge Apartments just traded for $14.2 million. The sale price represents $73,196 per unit and $71.01 per square foot.
Darron Kattan, Robert Goldfinger, and Kevin Kelleher with Franklin Street represented the buyer, a regional owner. The seller is a private partnership based out of New York City that owned the property for nearly 15 years. Larry Ochab of Pinnacle Realty represented the seller.
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