ORLANDO, FL - Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of two Orlando apartment communities – Carlyle Court at 5975 Curry Ford Rd. and Pendelton Park Villas at 5953 Curry Ford Rd. The final price was $51 million, equating to more than $205 per square foot.
Mike Donaldson and Nick Meoli, of Cushman & Wakefield represented the seller, Lloyd Jones, LLC. Both properties were acquired by Eagle Property Capital Investments, LLC.
“Carlyle Court and Pendelton Park Villas have historically sold as a two-property portfolio and have numerous synergies with each other,” said Donaldson, Executive Managing Director at Cushman & Wakefield. “Both properties have frontage to Curry Ford Rd., a heavily trafficked street with 33,000 vehicles passing by daily, offering excellent exposure in an area currently experiencing 16 percent annual rent growth.”
Located across the street from one another, Carlyle Court and Pendelton Park Villas total 310 units and are strategically positioned in the Edgewood Park submarket of Orlando.
Carlyle Court offers a courtyard like resort style setting while Pendelton Park Villas offers single-story living that is unique compared to typical garden style communities. Amenities at the apartment communities include screened patios in select units, swimming pools with brick pavers, a fitness center, business center and on-site laundry facilities.
“These assets are well poised to benefit from several proposed capital improvements new ownership has planned along with their rebranding under one name as Sunset Place apartments,” added Meoli, Executive Managing Director at Cushman & Wakefield.
About Cushman & Wakefield: Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.