NGKF Capital Markets Closes On Three Orlando Assets For Nearly $100 Million

Nov 24, 2015 No Comments by

NGKF Capital Markets recently completed three separate investment sales transactions within the metro Orlando area.

Most recently, the team closed the $21.2 million sale of a 98,411-square-foot retail shopping center, Vista Centre Shoppes near Disney World, on behalf of a private South Florida real estate investment firm.

Located in one of the nation’s top performing retail submarkets, Vista Centre Shoppes is in the heart of the tourist corridor of the Orlando market; it is anchored by well-known tenants like Black Fire Brazilian Steakhouse, Sea Dog Brewing Company and Hooters. The property was nearly 90 percent occupied at the time of the sale. NGKF Capital Markets represented the buyer, GL Orlando Vista, LLC, a real estate investment firm, in purchasing this property from TSO Vista Centre.

 

“Vista Centre Shoppes offers a high growth opportunity for our client in a high-traffic area and impressive track record of increasing sales revenue with the current tenant base over the past year.” said Adam Greenberg, executive managing director of NGKF Capital Markets. “The property was attractive to buyers since it was below replacement cost and unencumbered by existing debt.”

In addition, the same NGKF team previously closed on two multihousing transactions on behalf of the seller, CWCapital Asset Management, LLC, in two suburban residential markets within the metro Orlando area. Both Victoria Place Apartments and Charter Pointe Apartments sold at a combined sales price of $71 million featuring a total of 676 units.

 

“Orlando’s strong multihousing market fundamentals enabled our team to yield the highest and best results on behalf of our client,” notes Michael Lohmann, managing director of NGKF Capital Markets. “With Orlando’s occupancy rate approaching 97%, both new and older assets are trading as hot commodities and fetching record prices.”

The NGKF Capital Markets team based out of South Florida in the Miami office is comprised of Executive Managing Directors Adam Greenberg and Michael Lapointe, Managing Director Michael Lohmann, Senior Financial Analyst Scott Gordon and Senior Transaction Specialist Stephanie Ceballos.

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Industry News, Multi-Family, NA, Retail
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