ORLANDO-Mallard Cove Apartments, a 344-unit multifamily complex,has sold for $14 million. Tampa-based Blue Rock Partners purchasedthe asset in a strategic partnership with Deerfield Beach-basedKonover South. The deal marks Blue Rock Partners’ secondOrland-area apartment acquisition in as many months.

Cole Whitaker, head of Hendricks & Partners’ southeastregional office Orlando, brokered the transaction. The seller wasMidland Savings Group, acting as servicer for KeyBank. Theproperty, which is 87% occupied, will be rebranded as The Park atCambridge Apartments.

“This property was a lender-owned REO, so the pricing was veryattractive as well as the financing,” Randy Ferreira, co-managingpartner at Blue Rock Partners, tells GlobeSt.com. “We like thisneighborhood. The complex is located within minutes of the OrlandoInternational Airport and Downtown Orlando in the Conway area. Thefloor plans are strong.”