Orlando, FL – June 16, 2015 – (RealEstateRama) — CBRE Capital Markets arranged the sale of Barrington Place Apartments, a 233-unit apartment community in the Oviedo area of Orlando for an undisclosed amount. Located at 2785 Chaddsford Circle, the complex was completed in 1998 and has a current occupancy of 95%.
CBRE’s Shelton Granade, Luke Wickham, Robert Given and Justin Basquill executed the transaction on behalf of Chicago-based Equity Residential, an apartment REIT with a portfolio of more than 100,000 apartment units nationally. The buyer was a private investment group with multifamily holdings across the country, including several properties in Central Florida.
“Investor interest in the UCF/East Orlando corridor has been very strong, driven by employment growth around the University and the surrounding office/research parks,” said Mr. Granade, Executive Vice President of CBRE Capital Markets, Multifamily. “The property has excellent visibility on heavily-travelled Aloma Avenue near retail, dining and employers.”
Barrington Place offers a host of amenities, including a resort-style pool, a large clubhouse, a fitness center, a business center, and private garages. Easily accessible from Aloma Avenue and State Road 417, the property is located just minutes from the Central Florida Research Park, Quadrangle Office Park, University of Central Florida, Valencia College and Full Sail University.
Mr. Granade, Mr. Wickham and Mr. Basquill have closed approximately $2.0 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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