Cushman & Wakefield Negotiates $36.4M Sale Of Reflections Apartments

Oct 09, 2017 No Comments by

Cushman & Wakefield has negotiated the sale of Reflections Apartments, a 336-unit suburban multifamily apartment community in Casselberry.

Senior Directors Jay Ballard and Ken Delvillar represented GoldOller Real Estate Investments in the disposition. The RADCO Companies acquired the asset for $36.4 million ($108,333 per unit).

Reflections Apartments is a 336-unit, three-story suburban garden multifamily community built in 1984 on a ±14.60-acre site at 100 Reflections Circle in Casselberry. This location, just north of downtown Orlando, provides convenient access to Interstate 4 and U.S. 17/92 as well as Full Sail University, Rollins College and Winter Park Memorial Hospital.

Reflections Apartments offers a mix of one- and two-bedroom units. The average unit is 792 square feet. The average rent was $918 at the time of sale.

Units at Reflections Apartments feature elegant wood-style flooring, spacious bathrooms, central air, screened patios and balconies, high-speed internet, washer and dryer connections and valet trash service. Select units have lake or fountain views and natural stone fireplaces.

The community offers a clubhouse, swimming pool, barbecue area, covered parking, playground, state-of-the-art fitness center, complimentary fitness classes, business center and a 24/7 clothes care center.

Reflections Apartments is the seventh community in RADCO’s Florida portfolio. The company owns one other Central Florida asset, Lakeside at Winter Park.

 

“Reflections Apartments was a truly unrivaled, value-add investment opportunity,” said Ballard. “The property performed exceptionally well under GoldOller’s guidance, and there is significant headroom for growth going forward for RADCO.”

 

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