The Real Deal Miami

Orlando condos sell in bulk for $43,000 each

Marcus & Millichap represented buyer that paid about $8 million for 188 condos

August 21, 2016 09:35AM

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Los Robles Condominiums

Los Robles Condominiums

Commercial property brokerage Marcus & Millichap announced the bulk sale of 188 condominium units in Orlando for $8.084 million, or $43,000 per unit.

The units are part of a 200-unit property called Los Robles Condominiums at 4500 Silver Star Road in Orlando.

The 188 units include 46 with one bedroom and one bathroom, 126 with two bedrooms and two bathrooms, and 16 with three bedrooms and two bathrooms.

Michael Donaldson and Nicholas Meoli in the Tampa office of Marcus & Millichap secured and represented the buyer, a limited liability company based in Ormond Beach, which plans to rent the 188 condo units acquired in the bulk sale. The unit sizes range from 765 square feet to 1,200 square feet.

Meoli said in a written statement that Los Robles underwent conversion to condo units in 2007 and “will prove to be one of the most attractive rental communities in the sub-market.”