Miami-based Courtelis sells Kissimmee apartments

Hercules Real Estate paid $66,497 per unit for the low-income tax credit apartment community

TRD MIAMI /
Mar.March 20, 2016 02:30 PM

Miami-based Courtelis Development Co. sold an affordable rental housing property in Kissimmee for $26.2 million, or $66,497 per unit.

Grande Court at Boggy Creek at 1401 Grande Boulvevard in Kissimmee is a low-income housing tax credit community with 394 units with one-, two- and three-bedroom floor plans. The units have ceiling fans, walk-in closet and storage space.

Developers acquire and sell low-income housing tax credits to investors to fund the construction of rental housing that the U.S. Department of Housing and Urban Development deems affordable.

Grande Court at Boggy Creek has a swimming pool, wading pool, playground, barbecue area, picnic area, clubhouse and fitness center, among other common-area amenities.

Even Kristol in the Fort Lauderdale office of brokerage Marcus & Millichap and Still Hunter III of Marcus & Millichap’s institutional property advisors division represented Courtelis.

Kristol and Hunter also procured the buyer, Hercules Real Estate Services Inc.


Related Articles

arrow_forward_ios
Rendering of Belmont Village Coral Gables and Baptist Health South Florida CEO Brian L. Keeley

Baptist, Belmont gain approval for luxury senior living in Coral Gables

Baptist, Belmont gain approval for luxury senior living in Coral Gables
9885 Palomino Drive (Credit: Google Maps)

Resort Lifestyle Communities scores $36M construction loan for Lake Worth senior housing project

Resort Lifestyle Communities scores $36M construction loan for Lake Worth senior housing project
5010 Nob Hill Road (Credit: Google Maps)

Sunrise affordable senior housing facility sells for $30M

Sunrise affordable senior housing facility sells for $30M
Mark Zilbert

Let’s make a deal? Some resi sellers in Miami-Dade slash asking prices

Let’s make a deal? Some resi sellers in Miami-Dade slash asking prices
(Credit: iStock)

Home sales dropped big time in South Florida in April

Home sales dropped big time in South Florida in April
 Rendering of Father Marquess-Barry Apartments with Matt Rieger

HTG scores financing for senior affordable housing in Overtown

HTG scores financing for senior affordable housing in Overtown
Renderings of different versions of the project with Matt Rieger

HTG plans 1,000-unit affordable housing complex in Miami’s Overtown

HTG plans 1,000-unit affordable housing complex in Miami’s Overtown
Pharrell Williams (Credit: Ethan Miller/Getty Images)

South Florida by the numbers: Bright spots in a challenging market

South Florida by the numbers: Bright spots in a challenging market
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...