Palm Heights bought Azul Baldwin Park, a 178-unit apartment scheme in Orlando, Florida, for $43.25m. Walker & Dunlop represented the seller, Jefferson Apartment Group. Located in the mixed-use community of Baldwin Park, the property was the first LEED-certified apartment complex in the greater Orlando region. Avison Young represented the buyer.
“As we were selling the down-leg property, we worked closely and tirelessly together with our client to further build upon their strategy of acquiring institutional properties in select growth markets like Orlando, where we feel strongly about the future demand drivers,” said Peter Sherman, principal at Avison Young. “With this acquisition, we took advantage of a rare investment opportunity in Baldwin Park, one of Orlando’s most desirable neighborhoods with limited available land for future multi-family development.”
