Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Courtyard Villas, an 80-unit multifamily community, in Orlando, Florida. The property sold for $12 million.
This garden-style apartment community is situated less than one mile from Interstate4. The apartments are comprised of 27 two-bedroom/one-bath and 53 partially renovated two-bedroom/one-bath units. Amenities include a swimming pool, on-site laundry facilities, and four courtyard areas. Courtyard Villas is centrally located with nearby access to entertainment, including Universal Orlando Resort, ICON Park, and The Mall at Millenia.
“This closing was especially exciting for our team considering that Courtyard was listed by a competing brokerage firm at a lower price point as recently as Q4 of last year” said Jason Hague, first vice president of investments. “We believe our extensive marketing efforts and nationwide outreach allowed us to generate numerous offers while navigating a challenging debt and insurance market. It was a pleasure working with both the buyer and seller on a transaction that proceeded smoothly during the contract period, all things considered.”
Millichap’s Tampa and Orlando offices, investment specialists in Marcus & Millichap’s Tampa and Orlando offices, had the exclusive listing to market the property on behalf of the seller, Red Knight Properties LLC. The buyer, a Limited Liability Company, was also secured by Hague, Roberts, and Anderson.
