Located at 10200 Falcon Pine Boulevard, the gated multifamily community sits between Lake Nona's Medical City, the Central Florida Research Park, and the University of Central Florida. The multifamily property is on more than 21 acres and features 48 one-bedroom, 168 two-bedroom, and 84 three-bedroom apartments.

“New ownership has the tremendous opportunity to increase income through modest enhancements moving forward,” says Granade. “This is TruAmerica's third acquisition in the Orlando area this year, which speaks to the strength of the market.”

MIAMI—Arium Falcon Pines, a 300-unit value-add multifamily property in East Orlando, has traded hands. The sale price: $47.7 million.

Los Angeles-based TruAmerica Multifamily acquired the multifamily asset. Arium Falcon Pines was built in 2006.

CBRE's Shelton Granade, Luke Wickham, and Justin Basquill represented the seller, a partnership between Carroll Organization and Goldman Sachs Asset Management Private Real Estate, in the transaction. The multifamily community was 94% occupied at the time of sale.

“Apartment fundamentals in the overall Orlando metro continue to be robust, which keeps attracting investors seeking strong rent growth,” Granade tells GlobeSt.com. “Job growth is tremendous in Orlando, growing by 3.6% from Q1 2016 to Q1 2017, which was number one in the US. This is having an incredibly positive effect on the local apartment market.”

Located at 10200 Falcon Pine Boulevard, the gated multifamily community sits between Lake Nona's Medical City, the Central Florida Research Park, and the University of Central Florida. The multifamily property is on more than 21 acres and features 48 one-bedroom, 168 two-bedroom, and 84 three-bedroom apartments.

“New ownership has the tremendous opportunity to increase income through modest enhancements moving forward,” says Granade. “This is TruAmerica's third acquisition in the Orlando area this year, which speaks to the strength of the market.”