Florida Housing Affordability Inc. paid SE Residential East LLC $54.25 per sf for the 576-sf average unit-sized property at 986 Rollingwood Loop. Average base rents in 2002 were $508 per month.
Gerald Smith of Smith Equities Corp., Orlando, brokered the transaction. "The apartment (investment) market continues to stay strong," Smith tells GlobeSt.com. Broker Paul Guyet, also of Smith Equities, arranged 80% financing at a fixed rate of 5.97% for the purchase. The property has a mix of efficiencies, and one and two-bedroom units.
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