Berkadia has completed the $86.2-million sale of Alta East Shore, 285-unit, garden-style community constructed in 2021 in the Orlando, FL suburb of Apopka.

Brett Moss, Matt Wilcox and Tyler Swidler of Berkadia Orlando represented the seller, Wood Partners. RK Properties acquired the property.

“We continue to be impressed with the exceptional performance and lease-up metrics we are witnessing on new multifamily developments like Alta East Shore, that are situated in perceived ‘second’ or ‘third’ rung suburban locations in Central Florida,” said Moss.

Added Wilcox, “There are many eyes on Apopka now in anticipation of the completion of the Wekiva Parkway project, which opens up an entirely new economic corridor connecting the Apopka area to Lake Mary/Sanford, and represents the final link in Orlando’s beltway system,” added Wilcox.

According to Berkadia Research, average monthly rent in the Orlando metro area rose 19.5% year over year to $1,493 per month. Occupancy is 97.6%.