Sarasota-based Insula Capital Management has bought the Sun Club Apartments for $4.5 million. Built in 1974, the 130-unit garden style apartment complex has four buildings spread out over 5.90 acres. Trading for just over $34,600 per unit, the property is located at 1701 N. Central Avenue in Kissimmee and is 98-percent leased. Capstone Apartment Partners represented the buyer, which is one of the largest owners of multi-family units in Kissimmee. “The seller was a bank that foreclosed on the property about a year and a half ago, and had addressed some of the external deferred maintenance during its period of ownership” said Enon Winkler, a partner in Capstone.
