ORLANDO—The Villages Portfolio, threemultifamily properties with 710 units in CentralFlorida—has traded for $62 million. Philadelphia-basedEquus Holdings grabbed themultifamily assets from a partnership betweenAlex Brown Realty of Baltimore and OculusDevelopment of Chicago.
The multifamily portfolio includes Village atEast Lake, in Clermont, Village at Lake Ned in Winter Haven, andVillage at Park Road in Plant City. CBRErepresented the seller, and also provided the financing for thebuyer through Fannie Mae.
“The Villages are in strong path-of-growth locations in CentralFlorida, and are poised to take advantage of the region's rapidlyrecovering multi-housing market,” says SheltonGranade of CBRE. “The portfolio generated significantinterest, and the assets have great upside through modest propertyenhancements.”
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