Orlando – February 28, 2013 – (RealEstateRama) — February 28, 2013 – CBRE is pleased to announce the sale of Palisades Condominiums located at 14200 Avalon Road in Winter Garden, Florida. The 60-unit community sold for $4.8 million. Shelton Granade, Luke Wickham, and Justin Basquill of CBRE’s Orlando office exclusively represented the seller in the transaction. The buyer was a private equity firm from Beijing, China.
Built in 2007, Palisades offers 2 and 3 bedroom floor plans averaging 1,280 SF. The community, located just minutes from Walt Disney World, offers luxurious amenities including a resort style pool, a large clubhouse, and a fitness center.
This was the 34th multi-housing closing in 13 months making CBRE Orlando a market leader in multi-housing transactions.
“The Orlando market continues to exhibit strong investor demand. Most buildings have greater than 95% occupancies and rents are on the rise. Strong fundamentals coupled with Orlando’s international appeal provide significant investor interest,” stated Luke Wickham, Vice President.
Shelton Granade, Luke Wickham, and Justin Basquill are members of CBRE’s Central Florida Multi-Housing Group, and have closed more than $4.5 billion worth of apartment transactions in the greater Orlando market. Luke Wickham leads the group’s Private Client assignments like the Palisades, which are typically projects of 150 units or less.
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 firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 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 Web site at www.cbre.com.
Contact:
Elizabeth Cross
Marketing Director, FL
305.428.6373
elizabeth.cross (at) cbre (dot) com
Tempe Seibel
Marketing & Communication Specialist
407.404.5030
tempe.seibel (at) cbre (dot) com
