Institutional Property Advisors, a division of Marcus & Millichap, announced today the sale of Windrift, a 288-unit multifamily property in Orlando, Florida.
“Orlando’s diverse and extensive employment market has contributed significantly to the city’s strong record of multifamily asset equity preservation and appreciation,” said Shelton Granade, IPA executive managing director. “The combination of strong value-add potential and a market that can support continued appreciation made Windrift an ideal target for fresh investment capital.” Granade and IPA’s Luke Wickham, Justin Basquill represented the seller, Bridge Investment Group, and procured the buyer, Eagle Property Capital.
Easily accessible from Florida State Roads 50, 417, and 408, the property is less than one mile from the AdventHealth East Orlando campus and a short drive from Orlando’s central business district, the University of Central Florida, and Orlando International Airport. Dining and entertainment are nearby at the Waterford Lakes Town Center, Baldwin Park, and Park Avenue in Winter Park. Within a five-mile radius, the population is over 320,000.
Built in 1986, the property has community green space, a 24-hour fitness center, a resort-style swimming pool, and a covered playground area. All apartments have open-concept floorplans, washers and dryers, screened patios, and window treatments.
