Cushman & Wakefield Negotiates Sale Of Landmark At Lake Ellenor Multifamily Community

Dec 06, 2016 No Comments by

Cushman & Wakefield announced that it has negotiated the sale of Landmark at Lake Ellenor, a 296-unit multifamily community in Orlando’s South Central submarket.

Senior Director Jay Ballard and Senior Director Ken Delvillar of Cushman & Wakefield’s Orlando Capital Markets Multifamily Advisory Group, along with Vice Chair Mike Kemether of Cushman & Wakefield’s Atlanta Capital Markets Multifamily Advisory Group, represented Toronto-based seller Timbercreek Asset Management in the disposition.

Tampa-based investor Robbins Electra acquired the asset.

Landmark at Lake Ellenor is a 247,024-square-foot community developed in 1973 on a 25.5-acre site. The average unit size is 835 square feet. The community was 98 percent occupied at the time of sale.

Landmark at Lake Ellenor is located at 2100 West Oak Ridge Road, one half mile west of U.S. 441 and a little over two miles east of Interstate 4. This location offers immediate access to south Orlando’s major employment centers, including Orlando Central Park (Florida’s oldest office and industrial park), Walt Disney World, Universal Orlando, Sea World, Darden Restaurants, Lockheed Martin, The Florida Mall and The Mall at Millenia.

“Landmark at Lake Ellenor was an outstanding investment opportunity in one of Orlando’s most promising submarkets,” said Ballard. “We’ve seen double-digit rent growth in the the South Central submarket in recent years, and this asset should continue to benefit from its location immediately adjacent some of Central Florida’s largest employers.”

 

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Industry News, Multi-Family, NA
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