Moncler Capital Partners has purchased the Island Club apartment complex in South Orlando for $45 million. Built in 1990, the 472-unit gated apartment community traded for just under $95,340 per unit. Located at 1401 S Kirkman Rd. on a 42 acre site, the property was 94 percent leased at the time of closing. CBRE’s Shelton Granade, Luke Wickham, and Justin Basquill represented the seller, Harbor Group International, during the transaction.
“Island Club generated strong interest from value-add investors seeking rental upside in this high-demand submarket,” said Shelton Granade, Vice Chairman, CBRE Capital Markets, Multifamily. “The Orlando economy has a really compelling story right now, which is helping to attract very capable private equity and institutional investors.”
