New York investment firm, White Eagle Property Group, has acquired an Orlando apartment complex in the Orlando area for $64 million. The property, the 480 unit Auvers Village Apartments, changed hands for just under $133,335 per unit. Located at 5800 Auver Blvd., the townhome style property was 93 percent leased at the time of the sale. The seller, Salt Lake City-based Bridge Investment Group Holdings, bought the asset in 2014 for $50.7 million. On-site amenities include an updated clubhouse and fitness center, playground and basketball court, as well as summer kitchens in a resort–like setting.
CBRE Capital Markets Vice Chairman Shelton Granade, who represented the seller said that the seller fully or partially upgraded two-thirds of the units, which provides new ownership with the opportunity to expand the upgrade process and increase gross revenue at the property. “Auvers Village is located in the high-demand Winter Park submarket and offers one of the most attractive amenity packages in the area,” he said.
