ORLANDO—Villas at Pine Hills, a 96-unit multifamily community in Orlando, just traded hands. The sale price: $60,938 per unit, or $5.85 million.
Cushman & Wakefield executive director Jay Ballard and senior director Ken Delvillar represented the seller, Villas at Pine Hills Partnership. SCR Properties 3 acquired the multifamily asset.
"Villas at Pine Hills provided investors with the opportunity to acquire an asset with a strong historical track record," Delvillar tells GlobeSt.com. "The community's two-bedroom duplex layouts were unique to the immediate market and very desirable for prospective tenants. This demand was exhibited by occupancy rates which were well above market average."
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