ARA, A Newmark Company (ARA Newmark) announces the $56 million sale of Casa Mirella, a 276-unit luxury multihousing asset in Windermere, Florida, one of Orlando’s most affluent neighborhoods with an average household income of $155,550.
Executive Managing Directors Patrick Dufour and Kevin Judd, Director Scott Ramey and Vice Chairmen Richard Donnellan and Marc deBaptiste represented undisclosed sellers in the transaction to unnamed buyers for $202,899 per unit.
Ramey explained, “Casa Mirella transacted as part of a national multifamily portfolio. Buyers were drawn to this prestigious location, where acquisition opportunities are very limited, as well as the quality or the product which features the largest units in the submarket.”
Completed in 2015, the Class A property offers a unique blend of modern luxuries and traditional neighborhood comforts with some of the largest unit sizes in Orlando. Apartments feature stainless steel appliances, 2.5” granite countertops, 42” cabinetry, full size washer/dryers, designer flooring, nine-foot ceilings and spacious screened balconies. Luxury amenities include a resort-style clubhouse, business center, cyber café with lounge, fitness center, private lake with walking trail, pool with large sun deck and 68 detached garages.
About ARA, A Newmark Company
ARA, A Newmark Company (ARA Newmark) is the largest full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student, manufactured housing and multihousing land. ARA Newmark comprises the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA Newmark’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of global resources, unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in an annual production volume of more than $13.7 billion in real estate transactions in 2015. For detailed information on ARA Newmark’s extensive multihousing investment services, visit www.aranewmark.com.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.