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Florida & Gulf Coast  + North Florida  + Apartments  |  February 7, 2020
David Cohen
By: David Cohen

CushWake Brokers $25M Sale of Daytona Beach Apartments

Cushman & Wakefield has arranged the sale of Ridgecrest Park Apartments, a 275-unit, garden-style multifamily asset in Daytona Beach. The sales price was $25.1 million.

Located at 1400 S. Nova Rd., the property is currently 97% occupied and sits on 45 acres. The community features one-and two-bedroom units averaging 888 square feet. The property was built in 1967 and has been updated numerous times. Recent renovations include refaced cabinets, new kitchen backsplashes, new vinyl plank flooring, as well as installation of washer/dryer connections and updated bathroom vanities.

Mike Donaldson and Nick Meoli of Cushman & Wakefield’s Florida Multifamily Investment Sales Team represented the seller, Eastern Property Real Estate Group, in the transaction. The buyer is Covenant Capital Group, a Nashville-based real estate private equity firm.

Connect South Florida is coming to Key Biscayne on Feb. 26, 2020. For more information, or to register, click here.

For comments, questions or concerns, please contact David Cohen

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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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