ORLANDO—A 328-unit garden-style luxury multifamily community just traded hands in Ocala, FL. An Atlanta company snapped up the apartment community for $34 million

Cushman & Wakefield senior director Jay Ballard and director Ken Delvillar of the firm's Multifamily Advisory Group represented an affiliate of Brookfield Property Partners in the transaction. The buyer was Ocala FL Apartment Partners.

“The Ocala multifamily market is incredibly strong at the moment,” Ballard tells GlobeSt.com, referencing a market-wide occupancy rate approaching 97%. “And it continues to show strong occupancy and rental growth.”

Deerwood Village was constructed in 2006 on a 40-acre site in Marion County at 1850 Southeast 18th Avenue. The multifamily community's Big House design style features a low-density site plan—8.86 units per acre—and a more traditional residential feel.

Deerwood Village offers a private front-porch style entrances, loft units, fireplaces, nine-foot and/or vaulted ceilings, attached garages, ceramic tile floors, oversized roman tubs, gooseneck kitchen faucets, electric fireplaces, and built-in microwaves. The multifamily community is located within three miles of both Munroe Regional Medical Center and Ocala Regional Medical Center, which employ over 3,000 people.