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Newmark Brokers $57M Sale of Daytona Beach Apartment Community

Newmark has brokered the $57.1 million sale of Tomoka Pointe, a 276-unit, garden-style apartment community in Daytona Beach.

Built in 2019, the community consists of a combination of three- and four-story apartment units. Amenities include a resort-style pool with an outdoor kitchen and pergola, a fitness center with TRX equipment, a spin studio and a clubhouse. The community was designed by Forum Architecture and built by Summit Contracting Group.

Scott Ramey, Erik Bjornson and Patrick Dufour of Newmark represented the seller, Tomoka Pointe Housing, in the transaction. The buyer was Waypoint Real Estate Investments.

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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.