Charter Pointe, a 312-unit apartment community has been sold to Jacksonville-based Michaelson Group for $31 million. Located in the Orlando sub-market of Altamonte Springs at 919 Ballard St., the asset changed hands for just under $99,360 per unit. Built in 1973 on a 19 acre site, the property encompasses 23 two-story buildings and features a renovated clubhouse, two swimming pools and 625 parking spaces. The seller, Sarasota-based Insula Properties, was represented by CBRE’s Shelton Granade, Luke Wickham and Justin Basquill. “Investors were drawn to the desirable location in Altamonte Springs near the Maitland Center Office Park, Uptown Altamonte, and within walking distance to a new SunRail commuter rail station,” said Shelton Granade, vice chairman of CBRE Capital Markets.
