Robert W. Miller, senior vice president, Central FloridaMulti-Housing Group of CBRE and CBRE broker Shelton D. Granade,negotiated for the seller. The buyer represented itself. The dealwas done at this time "to capitalize on the low interest rateenvironment and aggressive buyers in the market," Miller tellsGlobeSt.com.

The deal took only three months to complete, from contractsigning to closing. Buyer and seller ran into no environmental orgovernmental challenges before closing the transaction, Millersays. The property is at 19927 Villa Square Dr. in south Orlando.The average living area is 1,120 sf per unit. Average asking baserents are $725 to $1,285 per month.

Miller tells GlobeSt.com CBRE's Florida Multi-Housing Group isexpected to complete $2.2 billion in sales this year, or "abouttwice what we did last year and more than any other brokerage firmin the state." To date, CBRE has sold about $1.5 billion inmultifamily properties this year. "The assets sold range from AAproperties purchased by condo converters to older communities thatpresented value-added opportunities" for buyers, Miller says.