“Leasing was phenomenal at this well-located new property, and it proves that there is a strong investment appetite for these deals—even before they are fully stabilized,” says Granade. Art Avenue is located 15 minutes from Downtown Orlando.

Completed in 2014, Art Avenue is also located near two of the area's largest professional employers—Lake Nona Medical City and the University of Central Florida. The community offers luxury amenities, such as stainless steel appliances, private garages, 9-foot ceilings, large islands in the kitchens and designer cabinetry.

“Orlando is continuing to see an uptick in larger transactions in the multifamily space,” Granade, executive vice president of CBRE Capital Markets, Multifamily, tells GlobeSt.com. “Investors are drawn to the upside and improving fundamentals in Central Florida, and are finding it more efficient to put out capital in the $50 million to $150 million range, as evidenced by our sale of Sun Lake, Sun Key, Camden Club, Alexandria, and others in the last few months.”