McKinley Acquires Orlando Lakeside Community for $50M
Multifamily owner and operator McKinley has purchased Sawgrass Apartments, a 208-unit residential community located at 2859 S Conway Road in Orlando, FL, for $50 million.
Scott Ramey, Ryan Moody, Patrick Dufour, Brad Downing Andrew Visnick and Paul Grant of Newmark represented the seller, PRG Real Estate, and were the sole brokers on the sale transaction
“The property has a great history of tenancy and offers ownership value-add options for them to continue to invest in the community and further its place as an in-demand destination for tenants in the Orlando area,” said Ramey.
PRG Real Estate infused nearly $2.5 million in capital improvements since acquiring the asset in 2008. The garden asset comprises two- and three-story residential buildings, united by a lake at the community’s central interior.
Community amenities lakeside dining area with gas grill stations and lounges, sundeck swimming pool, fitness center, bark park, car care center and electric vehicle charging stations.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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