The 487-unit Grandeville at Avalon Park apartment complex in Orlando has been picked up by Atlanta-based Oxford Properties for $92.5 million. Constructed in 2008, GrandeVille on Avalon Park is located within Avalon Park, a 1,860-acre master planned-community in East Orlando. The mixed-use development includes 3,400 single-family units, 1,431 multifamily units and more than 500,000 square feet of commercial space. Amenities include a 14,877 sqf clubhouse, an indoor basketball court, business center, resident kitchen and fitness center. The purchase marks the company’s third multihousing buy in the Orlando MSA in the past 12 months. ARA Newmark represented the seller LeCesse Development Corporation of Altamonte Springs during the sale.
“Avalon Park is growing into one of the most desirable areas in the region due to the attractive lifestyle it offers, its top-rated schools, regional accessibility and proximity to employment, shopping and dining,” said ARA Newmark Executive Managing Director Patrick Dufour.
