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ORLANDO-Boston-based TA Associates, a private equity firm, purchased The Estates at Park Avenue, a 432-unit, Class A garden and townhouse apartment complex in Orlando. The seller, an institutional fund advised by Prudential Real Estate Investors, sold the property for $43,250,000, or just over $100,000 per unit. The transaction closed on May 5th.

Prudential was a partner of Epic Properties, the developer of the project, says Kevin Judd, an Orlando-based principal at ARA, who was one of the brokers representing the seller. “This sale represents one of the few institutional quality, non-distressed properties to trade over the past 18 months,” he says.

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