Orlando, Fla. (March 18, 2019) – Berkadia announces it has arranged the sale of a five-property multifamily portfolio in central and north Florida. The properties, located in Gainesville, St. Petersburg and Daytona Beach, were sold to two separate buyers.
Senior Managing Director Cole Whitaker and Director Mary Beale of Berkadia’s Orlando office, along with Senior Director Jason Stanton of Berkadia’s Tampa office and Director Greg Rainey of Berkadia’s Jacksonville office, represented the seller, The McKinley Companies, a real estate investment firm based in Ann Arbor, Michigan.
Sun Pointe Lake Apartments (96 units) and Sun Pointe Apartments (119 units), both in Daytona Beach, were acquired along with Windmeadows Apartments (323 units) in Gainesville by GoldOller Real Estate Investments. Berkadia also secured the financing for these three properties through Freddie Mac and Fannie Mae. Senior Managing Director Robert Falese of Berkadia’s Philadelphia office arranged the financing.
Benchmark Group purchased the Sailpointe Apartments (60 units) in South Pasadena and El Mar Apartments (42 units) in North Redington, both near St. Petersburg.
“As Florida’s population continues to grow with about 1,000 people each day and is home to the nation’s third largest workforce, the sale of this portfolio indicates strong interest in multifamily investment in secondary markets due to a variety of positive factors drawing new residents to the state,” said Whitaker.
Built in 1986, Sun Pointe Lake Apartments is located at 1757 South Clyde Morris Boulevard. Two-bedroom units include dishwasher, disposal and lake views. Community amenities include laundry facilities, Wi-Fi, picnic area, fitness center, tennis court and swimming pool.
Built in 1986 and renovated in 2001, Sun Pointe Apartments is located at 1250 Woodcrest Drive. One-bedroom units include dishwasher and walk-in closets. Community amenities include a business center, fitness center, spa, pool, laundry facilities and picnic area with grill.
Built in 1972, Windmeadows Apartments is located at 3700 Windmeadows Boulevard. One- and two-bedroom units include dishwasher, range, microwave and walk-in closets. Community amenities include a fitness center, sauna, swimming pool, basketball court, game room, car wash area and laundry facilities.
Built in 1969, Sailpointe is located at 6742 Gulfport Boulevard. One- and two-bedroom units include stainless steel appliances, dishwasher, disposal, sunroom, and walk-in closets. Community amenities include a sundeck, picnic area, and lake access with boat docks.
Built in 1972, El Mar is located at 17035 Gulf Boulevard. Two-bedroom apartments include stainless steel appliances, dishwasher, disposal, range, breakfast nook, hardwood floors, sunroom, walk-in closets, and window coverings. Community amenities include a fitness center, bike storage, lounge, coffee bar, rooftop lounge, sundeck, courtyard and barbecue area.