Orlando, FL – May 5, 2015 – (RealEstateRama) — CBRE Capital Markets arranged the sale of The Park at Laurel Oaks, a 552-unit apartment community in Winter Springs, Florida, about 15 minutes outside of Orlando. The gated community, located at 1 Laurel Oaks Drive, was acquired from Laurel Oaks, LLV by an affiliate of New York-based White Eagle Property Group for $54 million. CBRE’s Shelton Granade, Luke Wickham and Justin Basquill exclusively represented the seller in the transaction.
“The Park at Laurel Oaks has great value-add upside through minor property upgrades,” said Mr. Granade, Executive Vice President of CBRE Capital Markets, Multifamily. ”Multifamily investors continue to show strong interest in the Seminole County area of Orlando because of its prime location near top rated schools, high-end retail and major employers.”
The Park at Laurel Oaks was built in two phases (1986 and 2000), and has a current occupancy of 95%. The property is conveniently located in the affluent Orlando suburb of Winter Springs near three of the area’s largest professional employers – South Seminole Hospital, Lake Mary Heathrow Office Park and Maitland Center Office Park. Community amenities include a fitness center, business center, tennis court, car care center, private garages and two swimming pools.
Granade, Wickham and Basquill have closed approximately $1.8 billion in multifamily sales in Central Florida from 2013 to date.
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 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 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.
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