Orlando, FL – April 2, 2015 – (RealEstateRama) — CBRE Capital Markets arranged the sale of Whitepalm Apartment Homes, a new 306-unit luxury apartment community in Port Orange, Florida, about 45 minutes outside of Orlando. The Class A property, located at 5400 S. Williamson Boulevard, was acquired from Birmingham, Alabama-based LIV Development by Carter-Haston Holdings from Nashville for $40,289,500. CBRE’s Shelton Granade, Luke Wickham and Justin Basquill represented the seller in the transaction.
“Whitepalm is the fifth pre-stabilized apartment property we have sold recently in Central Florida. Investor interest in newer assets is growing substantially, even before these communities are fully occupied,” said Mr. Granade, Executive Vice President of CBRE Capital Markets, Multifamily. ”Volusia County is in the midst of an impressive economic expansion and the Port Orange area was under-served in terms of luxury apartments.”
Whitepalm was completed in 2014 and is conveniently located in the Daytona Beach area near two of the area’s largest professional employers – Florida Hospital Memorial Medical Center and Halifax Medical Center. The gated community offers luxury finishes, such as stainless steel appliances, 9’ ceilings, oversized balconies, stylish cabinetry, and designer counter tops. Amenities include a large clubhouse, a resort-style pool with cabanas, a serenity beach fully equipped with hammocks and a state-of-the-art fitness center.
Granade, Wickham and Basquill have closed approximately $1.7 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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