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ORLANDO-SunVest Communities LLC of Hollywood, FL has acquired its second multifamily property in weeks with the $35-million purchase of the six-year-old Courtney Landing Apartments one mile north of Orlando International Airport. SunVest paid North Carolina-based Courtney Landing Apartments LLC $126,812 per unit for the 276-unit, 94%-leased property at 6590 Swissco Ave.

Two weeks earlier, SunVest paid North Carolina-based Orlmark Associates LP $32 million, or $71,111 per unit, for the 450-unit Avalon Apartments at 4417 S. Semoran Blvd., near Courtney Landing. The 30-year-old property is 95% leased. Like Avalon, Courtney Landing is being converted immediately to condominium homes priced from the mid $100,000s to the low $200,000s, a SunVest representative tells GlobeSt.com. Century Marketing International is handling sales strategy for Courtney Landing, as it is for Avalon.

Like Avalon, the Courtney Landing purchase was a direct deal between buyer and seller. The property was not on the market. The deal took 90 days to complete, from contract signing to closing. Drucker & Falk LLC of Newport News, VA negotiated for the seller. SunVest represented itself.

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