Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ORLANDO-Closing their second multifamily transaction in two weeks, locally based Smith Equities Corp. brokered the $12-million sale of the 18-year-old, 272-unit Highland Pointe Apartments at 7721 Silverpointe Blvd. in southeast Orlando.

Highland Pointe Apartments LLC paid Highland Pointe Ltd. $43,394 per unit, or $51.45 per sf for the property, which was built in two phases between 1985 and 1987. The building comprises 124 one-bedroom, one-bath units; 132 two-bedroom, two-bath units; and 16 three-bedroom, two-bath units.

The average living area space in each unit is 854 sf. Average base rents are $673 per month. Brothers Gerald A. Smith and Mark D. Smith handled the transaction.

In last week’s closing, Smith Equities brokered the $5-million sale of the 13-year-old, 104-unit Belle Rive Club Apartments in Jacksonville, FL, as GlobeSt.com previously reported.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.