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Berkadia Brokers $50M Sale of Florida Panhandle Apartment Portfolio

Berkadia has arranged the $49.8 million sale of a three-property, 252-unit multifamily portfolio in the Florida Panhandle.

The portfolio consists of Crosswinds, a 176-unit community completed in 2019; Crosslake Cove, a 40-unit community built in 2001 and Ponderosa Place, a 36-unit community built in 1999. All three properties are located in Fort Walton Beach and include amenities such as swimming pools, fitness areas and private screened patios.

David Etchison of Berkadia’s Florida Panhandle office and Cole Whitaker of Berkadia’s Orlando office represented the seller, Fisher Development LLC, in the transaction. In addition, Mitch Sinberg and Matthew Robbins of Berkadia’s Boca Raton office arranged acquisition financing on behalf of the buyer, Vantage Point Acquisitions.

Connect

Inside The Story

Berkadia’s Etchison

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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