Franklin Street represented the buyer and seller, both private clients, in the sale a 100-unit, garden-style apartment property at 151 Eber Boulevard in Melbourne for $8 million. The firm also represented the buyer and seller in the sale of a 296-unit apartment property at 5659 Del Prado Drive in Tampa for $23.4 million. The buyer is a New York-based real estate company that has recently bought a significant amount of properties in Florida. (Do you share this one major commercial real estate concern for 2017?)

“The demand from multifamily investors has not slowed down even with the recent interest rate hike,” says Kelleher, senior director at Franklin Street. “The market for B and C Class apartment properties in particular is hotter now than it has been for a decade. We are seeing interest from a variety of different buyers that include institutional players all the way to mom-and-pop operators.”

Franklin Street represented the buyer and seller, both private clients, in the sale of a 178-unit rental community at 1763 Main Street in Dunedin for $22.45 million. The multifamily property sold for a record price for the vintage as it had just come out of a major renovation where rents were moved 40%-plus in a two-year period. The firm also represented the buyer and seller, both private clients, in the sale of a 96-unit apartment community at 14401 N 22nd Street in

MIAMI—How high is the demand for class B and class C multifamily assets in Florida? Franklin Street's Tampa-based investment sales team arranged $103.8 million in multifamily sales in the first quarter of 2017. Darron Kattan, Kevin Kelleher, Zachary Ames and Robert Goldfinger o brokered the multifamily deals.

“A strong recent trend has been seen in sales of class B and C assets, built between the 80s and as recently as the early 2000s,” Kattan, managing director at Franklin Street, tells GlobeSt.com. “Those properties offer great value and opportunity for the investor in today's market. Many have below market rents that can be significantly increased after the property has been upgraded.”

Franklin Street represented an institutional seller and a private, family office oriented buyer, in the transaction of a 396-unit apartment community at 5870 Sundown Circle in Orlando, for $36.65 million. The firm also represented the buyer and seller, both private clients, in the sale of a 112-unit rental community at 1550 University Woods Place in Tampa for $6.7 million. The buyer is a Canadian-based client looking to diversify and expand holdings in Florida.

“Florida's surge in apartment sales activity is being driven by fast job growth, solid economic fundamentals and high rental demand,” says Kattan. “We have a flood of capital chasing a finite number of deals and that has created a very competitive market.”

Franklin Street represented the buyer and seller, both private clients, in the sale a 100-unit, garden-style apartment property at 151 Eber Boulevard in Melbourne for $8 million. The firm also represented the buyer and seller in the sale of a 296-unit apartment property at 5659 Del Prado Drive in Tampa for $23.4 million. The buyer is a New York-based real estate company that has recently bought a significant amount of properties in Florida. (Do you share this one major commercial real estate concern for 2017?)

“The demand from multifamily investors has not slowed down even with the recent interest rate hike,” says Kelleher, senior director at Franklin Street. “The market for B and C Class apartment properties in particular is hotter now than it has been for a decade. We are seeing interest from a variety of different buyers that include institutional players all the way to mom-and-pop operators.”

Franklin Street represented the buyer and seller, both private clients, in the sale of a 178-unit rental community at 1763 Main Street in Dunedin for $22.45 million. The multifamily property sold for a record price for the vintage as it had just come out of a major renovation where rents were moved 40%-plus in a two-year period. The firm also represented the buyer and seller, both private clients, in the sale of a 96-unit apartment community at 14401 N 22nd Street in