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Two Florida Apartment Communities Sold for $73M
Atlanta-based Centennial Holding Company, LLC acquired a pair of Florida multifamily properties for $72.6 million. The assets include Century Ariva Apartments in Lakeland, and Lakehouse Luxury Apartment Homes in Plant City.
Cushman & Wakefield’s Luis Elorza, Brad Capas and Robert Given represented Highland City Gardens, LLC in the sale of Century Ariva Apartments (pictured), a 312-unit community. Centennial Holding Company, LLC acquired the property for $54.6 million, or $175,000 per unit.
The Cushman & Wakefield team also arranged the sale of Lakehouse Luxury Apartment Homes, a 125-unit community, on behalf of Lakeside Garden of Plant City, LLC. Centennial Holding Company also acquired the asset for $18 million or $144,000 per unit.
Elorza says, “These assets are among the highest-quality rental communities in their respective markets, and appeal to the top end of the rental market, enabling Centennial to acquire superior quality properties in a high-growth market that exhibits consistent, strong performance with few direct competitors and a limited development pipeline.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

