The Real Deal Miami

Orlando-area apartment complex commands more than $110M

Brokerage firm CBRE, which arranged the deal on behalf of the seller, says it was the highest-priced sale of its kind in the Orlando area's history
August 11, 2018 03:30PM

Timberlake & The Glades apartment complex (Credit: Digglane.com)

An 876-unit apartment complex in the Orlando area sold for more than $110 million, REBusiness Online reported.

Brokerage firm CBRE did not disclose the identity of the buyer or the sale price but said the transaction was the highest-priced sale of a multifamily housing property in the Orlando area’s history.

The apartment complex, called Timberlake & The Glades, is in Altamonte Springs, about 10 miles north of Orlando. Common-area amenities include four swimming pools, two tennis courts and two gyms. The property is within walking distance of multiple restaurants and a shopping center anchored by a Publix grocery store.

Timberlake & The Glades are two contiguous phases of a rental housing development that opened in 1986.

The seller is a partnership of GoldOller Real Estate Investments and The Family Office.

Shelton Granade, Luke Wickham and Justin Basquill of CBRE arranged the transaction on behalf of the seller. [REBusiness Online] – Mike Seemuth