ORLANDO—Whitepalm Apartment Homes, a 306-unit luxury multifamily community, just sold for $40,289,500. Birmingham, AL-based LIV Development sold the multifamily asset to Nashville's Carter-Haston Holdings.
Whitepalm is located at 5400 South Williamson Boulevard in Port Orange, FL. That's about 45 minutes outside of Orlando. CBRE Capital Markets' Shelton Granade, Luke Wickham, and Justin Basquill represented the seller in the transaction. Together, they have closed about $1.7 billion in multifamily sales in Central Florida since 2013.
"Luxury properties like Whitepalm are leasing very well,” Granade, executive vice president of CBRE Capital Markets, Multifamily, tells GlobeSt.com. “Rents are up due to high tenant demand, and that's spurred increased investor interest."
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