BK Real Estate Fund LP has purchased the Waterview apartment complex in south Orlando near the Mall at Millenia for $20.9 million. Built in 1988 and sitting on more than 31 acres along Lake Tyler, the 360-unit gated apartment community was more than 95 percent leased at the time of closing. The property’s features include two swimming pools, a clubhouse, a fitness center, sport courts, a business center and on-site laundry. The vendor was represented by CBRE’s Shelton Granade, Luke Wickham and Justin Basquill.
“Waterview is an infill asset in a high-demand submarket, just minutes from downtown Orlando, major employment hubs and popular entertainment destinations,” said Granade, vice chairman of CBRE Capital Markets. “Orlando’s high job growth story is attracting more diverse capital to the region, and this was this investment group’s first purchase in Central Florida.”
