The Advenir at Broadwater, a 408-unit suburban multifamily apartment community in Orlando, FL has been purchased by Emma Capital for $47 million. The 408 unit, two-story garden style apartment complex was built in 1988 on 22.9 acres at 6677 Tanglewood Bay Drive. Located in the heart of the Orlando’s tourist district, the property gives residents easy access to Orlando’s theme parks and Central Florida shopping destinations. Community amenities include two resort-style swimming pools and spas, a renovated clubhouse, a racquetball court, a Bark Park and on-site management. The sale marks the first purchase in Central Florida for Emma Capital, which assumed a Freddie Mac loan with six years remaining. Cushman & Wakefield Senior Directors Jay Ballard and Ken Delvillar represented the seller, Advenir in the disposition.
“Advenir at Broadwater was an affordable alternative to the abundant pipeline of new multifamily construction in greater Orlando,” said Ballard. “This is a value-add opportunity in a premium location, with excellent access to all that Orlando has to offer.”
