ORLANDO—The Plaza at Laurel Oaks just traded for $54 million, demonstrating the strength of Orlando's submarkets. The 552-unit multifamily community sits in the Winter Springs, FL about 15 miles outside Orlando.

An affiliate of New York-based White Eagle Property Group acquired the asset for $54 million. CBRE's Shelton Granade, Luke Wickham, and Justin Basquill represented the seller in the multifamily transaction.

"Larger investment groups are eager to place significant amounts of capital on bigger deals,” Granade, executive vice president of CBRE Capital Markets, tells GlobeSt.com. “We've closed three apartment transactions of $50 million or more in Orlando in the last 30 days, and have other similar opportunities on deck. That demand is a testament to the strength of the Multifamily market, and of Orlando as an investment target."

Laurel Oaks, LLV sold the gated community, which was built in two phases from1986 and 2000. The current occupancy is 95%.

The multifamily property is located in the affluent Orlando suburb of Winter Springs near three of the area's largest professional employers—South Seminole Hospital, Lake Mary Heathrow Office Park and Maitland Center Office Park. The multifamily community offers a fitness center, business center, tennis court, car care center, private garage, and two swimming pools.

“The Park at Laurel Oaks has great value-add upside through minor property upgrades,” says Granade. “Multifamily investors continue to show strong interest in the Seminole County area of Orlando because of its prime location near top rated schools, high-end retail and major employers.”

Granade and his team closed Central Florida's largest multifamily transaction of 2015 in April. A portfolio of 1,075 multifamily units traded hands for $89 million. Art Avenue Apartment Homes, a new 300-unit luxury multifamily community in Orlando, traded for $47.05 million in January.