TIAA-CREF Sells Off Multifamily Community For $19.5M

Aug 28, 2014 No Comments by

The Orlando office of ARA has arranged the $19.5 million sale of Highland Pointe, a 272-unit multifamily community located in Orlando’s Southeast/Airport submarket.

The property, completed in 1986, consists of one-, two- and three-bedroom units with an average unit size of 975 square feet.

Kevin Judd, Patrick Dufour and Richard Donnellan of ARA represented the seller, TIAA-CREF, in the transaction. Tampa-based Robbins Property Associates purchased the asset for roughly $71,691 per unit.

 

Source: RE Business

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Industry News, Multi-Family, NA
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