Continental Realty Sells Multifamily Property On Florida’s Space Coast For $55.3M

Jan 06, 2020 No Comments by

Baltimore-based Continental Realty Corp. (CRC) has sold Polo Glen Apartments, a 252-unit multifamily community, to an undisclosed buyer for $55.3 million.

Located at 3603 Middleburg Lane in Rockledge, Polo Glen is situated on the Space Coast near Cocoa Beach.

Scott Ramey and Patrick Dufour of Newmark Knight Frank’s Multifamily Capital Markets team represented CRC in the transaction.

Constructed in 2008, the complex offers one-, two- and three-bedroom floor plans.

CRC acquired Polo Glen in 2016 for $38 million from Atlanta-based Pollack Shores Real Estate Group. CRC implemented capital improvements during its ownership, including painting the community exterior and renovating interior units, the clubhouse, leasing office, business center and fitness center, which now features a Peloton bike studio.

 

Source:  RE Business

 

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Industry News, Multi-Family, NA
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