DAYTONA BEACH, FL-Mirror Lake Apartments, a 12-year-old, 90-unit property at 1751 South Clyde Morris Blvd., has been sold by owner Robert Powell to a private Miami investment group for $6.06 million or $67,389 per unit. The transaction represents a cap rate of 6.25%.

Enon Sterling Winkler and Kenneth Delvillar of the Sterling Group at Marcus & Millichap's Orlando office represented buyer and seller. Winkler says the deal was done at this time because the seller wanted to take advantage of current favorable market conditions.

The property took about four months to complete, from letter of intent to closing, Winkler says. "There were no major issues from contract [signing] to closing," the broker tells GlobeSt.com.

In the past 18 months, the Winkler-Delvillar team has closed 24 transactions totaling about $80 million in apartment sales in Central Florida and the east coasts of Florida. In the past month alone, the brokers closed the Landings at Timberleaf at $12.1 million; Lake Mann at $7.15 million; and Satellite Arms at $4.2 million. Winkler says the team has $65 million of properties under contract and another $64.88 million in exclusive listings.