ORLANDO-The Carlyle Group and Pollack Partners, Inc. have bought the Preserve at Econ River situated in the East Orange/UCF submarket for $20.8 million. ARA sales team comprising Kevin Judd, Matt Wilcox and Patrick Dufour negotiated the deal on behalf of the seller, JLC Southeast.
The 356-unit apartment community, built in 1998, has one-, two- and three-bedroom apartments in three story plans. Average size of the unit is 985 square feet. The property's occupancy rate was 92% at the time of the acquisition. For the full story, go to Florida Real Estate Journal .
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