The Insula Companies have picked up The Glenn, a luxury apartment community in Orlando for $42 million. Located near the University of Central Florida at 10801 Heather Ridge Circle, the 396-unit complex traded for $106,060 per unit. The property features three pools, a clubhouse, and a new fitness center with a spinning and yoga room. Constructed in 1986 and updated in 2014-15, the community was 95 percent leased at the time of closing. CBRE provided exclusive representation to the seller, Health Glen Holding Company.
“Although community amenities and exterior features of The Glenn were extensively upgraded in recent years, the interiors still presented the new ownership with a great value-add opportunity. As an added attraction, this well-appointed community occupies a very high-demand location near the University of Central Florida,” said Shelton Granade, CBRE Vice Chairman.
