The Alta at Eastmar Commons multifamily community in East Orlando has been sold to M&C Properties in a $56.65 million transaction. The Salt Lake City-based company paid just under $180,415 per unit for the 312-unit property located at 10038 Vista Laguna Drive. The asset, which sits on a 16 acre site near Valencia College East Campus and the University of Central Florida, is made up of 14 three-story apartment buildings. Built in 2017, amenities include a two-story clubhouse, eight detached garage structures, tech lounge with computer workstations, sports lounge with billiards room, a pet park and a pet spa. CBRE’s Shelton Granade, Luke Wickham and Justin Basquill represented the seller, Wood Partners.
“Alta at Eastmar Commons is a community with distinctive features that have contributed to the property’s strong traffic statistics and consistent, robust leasing activity,” said Granade, vice chairman of CBRE Capital Markets, in prepared remarks. “This asset is a great investment in a market with extremely robust apartment fundamentals and the nation’s highest job growth. The property is well-positioned for rent gains now that it’s stabilized.”
