Cushman & Wakefield Brokers $49M Sale Of Multifamily Community In Central Florida

Jul 22, 2018 No Comments by

Cushman & Wakefield has brokered the $49 million sale of Arrow Ridge Apartment Homes, a 320-unit multifamily community in the Central Florida community of Kissimmee.

Jay Ballard and Ken Delvillar of Cushman & Wakefield arranged the transaction on behalf of the seller, Waypoint Residential.

Mitch Sinberg and Matthew Robbins of Berkadia arranged a $37.9 million Freddie Mac acquisition loan on behalf of the buyer, Insula Cos. The 10-year loan features five years of interest-only payments.

Arrow Ridge includes 16 three-story buildings and features a mix of one- to four-bedroom units. Community amenities include a business center, swimming pool, gazebo, covered picnic areas, sand volleyball court, children’s play area and a fitness center. Waypoint Residential recently upgraded all unit interiors, which allowed the company to increase rental rates.

 

Source:  RE Business

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Industry News, Multi-Family, NA
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