McKinley has picked up an Orlando area apartment complex for $25.5 million. Located ten minutes from downtown Orlando and near the Universal Orlando Resort and The Mall at Millenia, the 252 apartment community is located at 4860 Cypress Woods Drive. The Serrano, built in 1990, was 94 percent leased at the time of closing. The property, which traded for $101,190, was sold by CBRE Investment Properties. “This well-located community presents new ownership with a compelling opportunity to upgrade interiors and amenities and drive rental revenues. This southwest Orlando submarket is an extremely high-demand rental pocket, and it was a very competitive bidding process,” said Shelton Granade, CBRE Vice Chairman.
