White Eagle Property Group has acquired the Arium Barber Park luxury lakefront apartment community in Orlando in a $51.9 million transaction. Trading for just under $98,700 per unit, the 526 unit property built in 1989 is located on Lake Margaret Drive. Arium Barber Park features two pools, a large fitness center, a game room, tennis courts, and a business center. CBRE’s Shelton Granade, Luke Wickham, and Justin Basquill, represented the seller, the Carroll Organization. At the time of the sale the asset was 94 percent leased.
“Arium Barber Park occupies a highly sought-after location with proximity to the area’s major demand drivers—the hospital, the airport, and downtown Orlando. Orlando is projected to experience tremendous employment and population growth over the next few years, so infill assets like this are poised for continued gains,” said Granade, Vice Chairman, CBRE Investment Properties.
