Berkadia Arranges $62 Million Sale of Class AA Luxury Apartments in Orlando

December 24, 2020

Berkadia Arranges $62 Million Sale of Class AA Luxury Apartments in Orlando

December 24, 2020

The Blake, located in Winter Springs Town Center, was built in 2019

ORLANDO (Dec. 23, 2020) – Berkadia announces it has arranged the sale of The Blake, a 281-unit, Class AA apartment community built in 2019 in the prestigious Winter Springs submarket of Orlando, Fla. Managing Directors Matt Wilcox and Brett Moss, Senior Managing Director Cole Whitaker, and Associate Tyler Swidler marketed the property on behalf of the seller, Catalyst Development Partners & HQ Capital. Preferred Apartment Communities (NYSE: APTS) acquired the property.

“The Blake is ideally situated inside Winter Springs Town Center, an institutionally owned mixed-used community anchored by a Publix and a variety of restaurants, bars and other services,” said Moss. “Accordingly, it offers residents the rare and highly desirable benefit of suburban walkability.”

Added Wilcox, “In addition, the majority of the property’s affluent residents are employed in low job-loss-exposure or COVID-resistant industries like professional  services and STEM, ensuring a long-term stable resident base. Further build out of Winter Springs Town Center and adjacent outparcels will only fortify the property’s long-term appeal.”

Located at 151 Michael Blake Boulevard, The Blake offers one-, two- and three-bedroom floor plans ranging from 698 square feet up to 1,374 square feet. Individual apartments feature open floor plans with nine-foot ceilings; gourmet kitchens with granite countertops, table-sized kitchen islands, and stainless steel appliances; wood-inspired flooring in living areas and plush carpet in bedrooms; balcony or patio in most units; grand walk-in closets; and a washer/dryer. Community amenities include a luxurious resort-style swimming pool, with semi-private cabanas and an outdoor fire pit; 24-hour fitness club; grand clubroom with billiards and gaming; business center, conference room and co-working spaces; dog groom spa; and immediate access to the paved 27-mile Cross Seminole Trail, which connects to 52 miles of other paved trails. The property is also within walking distance of the 103-acre Central Winds Park.

The Blake is located less than 25 miles northeast of Downtown Orlando, and enjoys immediate access to State Road 417 (Orlando’s Eastern Beltway), providing excellent connectivity to the metro area’s major employment hubs.

Preferred Apartment Communities Makes $62M Orlando-Area Buy | Multi-Housing News

Preferred Apartment Communities Snags Orlando Apartments for $62M | Connect Media

Berkadia Brokers $62M Sale of Multifamily Community in Metro Orlando | REBusiness Online