CBRE ARRANGES $17.9 MILLION SALE OF 304-UNIT APARTMENT COMMUNITY IN DAYTONA BEACH
Orlando, FL – September 23, 2014 – (RealEstateRama) — CBRE arranged the sale of Indigo Plantation, located in world famous Daytona Beach at 100 Powell Boulevard, for $17.9 million. The 304-unit community was completed in 1989 and has a current occupancy of 97%. CBRE exclusively represented the seller in the transaction.
“The Daytona and Volusia County rental markets are showing great promise as their local economy continues to expand,” said Shelton Granade, CBRE Executive Vice President. “Indigo Plantation is ideally located within minutes of $1.2 billion in new investment underway, including NASCAR’s Daytona Rising project and the One Daytona entertainment, dining and retail complex. The buyers on this deal have a great opportunity to add value through modest upgrades at the property during this time of economic growth.”
Indigo Plantation is just minutes from the Daytona International Speedway, Florida Hospital Memorial Medical Center and the new Trader Joe’s distribution center, offering great exposure to the growth expected in those areas. Amenities at the property include a resort-style swimming pool, fitness center, dog park, tennis courts and BBQ areas over a beautiful well-landscaped site.
Shelton Granade, Luke Wickham, and Justin Basquill led the sales effort for CBRE. Their team has closed more than $1 billion worth of apartment sales locally over the last 20 months.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
Contact:
Elizabeth Cross
Marketing Director, FL
305.428.6373
elizabeth.cross (at) cbre (dot) com
Daniel Jimenez
Communications Specialist
407.839.3191
daniel.jimenez (at) cbre (dot) com
