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NorthEnd, Motti Schapira Pay $240M for 14-Property FL Multifamily Portfolio
CBRE has arranged the $240-million sale of a 14-property FL-multifamily portfolio totaling two million square feet and 2,384 units. According to the company, the sale marks the highest dollar volume transaction to date in FL’s central, southwestern, and northern regions.
Michael Regan and Frank Carriera of CBRE represented both the seller, Amzak Capital Management, and the buyers, NorthEnd Equities and Motti Schapira.
The properties were built between the 1970s and 1990s.
- Lakeland Manor, Lakeland, 376 units
- Kings Trail, Jacksonville, 320 units
- Bella Mar, Tampa, 264 units
- Rolling Hills, Orlando, 240 units
- Timber Falls, Tampa, 184 units
- Jacksonville Heights, Jacksonville, 173 units
- Del Rio, Tampa, 160 units
- Tanglewood, Eustis, 138 units
- Mount Dora, Mount Dora, 132 units
- Lago Bello, Tampa, 120 units
- North Washington, Sarasota, 119 units
- Brandywyne, Winter Haven, 81 units
- The Landings, Winter Haven, 60 units
- Country Place, Winter Haven, 18 units
“This off-market transaction highlights the continued demand for low basis value-add multifamily properties throughout FL,” said Regan. “Capital continues to flow into Central and North FL from out-of-state buyers looking to scale in one of the fastest growing states in the nation.”
Photo: Del Rio
- ◦Sale/Acquisition
