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Central FL Multifams Part of $193M Liquidity Event Resulting in 287% Investor Return
Inland Private Capital Corporation has sold a portfolio of three multifamily properties — including one in Bradenton and one in the Orlando suburb of Oviedo — for $192.8 million. The liquidity event was on behalf of Park Creek Steeple Multifamily DST, a 1031 investment program.
- Creekside Ranch Apartments in Bradenton; 256 units
- Park Place Apartments in Oviedo; 275 units
- Steeplechase at Parkview Apartments in Fort Wayne, IN; 264 units
Each asset was acquired in 2015. The liquidity event resulted in a total return of 287.71 percent and an average annual return of 29.19 percent.
“Buyer demand was overwhelmingly positive for each asset of the Park Creek Steeple portfolio,” said Keith Lampi, president and COO of IPC. I could not be more pleased with this program’s performance, which maintained a stable stream of income throughout the hold period, while producing nearly a 3x equity multiple to investors as a result of its liquidity event.”
- ◦Sale/Acquisition
