Florida & Gulf Coast + Central Florida + Apartments | December 2, 2022

Newmark Group, Inc., has completed the $98 million sale and financing of Luma Headwaters apartments in Orlando, FL between seller Waypoint Residential and buyer Venterra Realty.

Newmark Group Secures $98M Sale, Financing of Class A Community in Orlando

Newmark Group, Inc., has completed the $98-million sale and financing of Luma Headwaters, a 328-unit Class A multifamily located in Orlando, FL.

The property was acquired by Venterra Realty, an owner/operator of mixed-use and multifamily communities. Scott Ramey, Brad Downing, Patrick Dufour, Paul Grant and Ryan Moody of Newmark Group, Inc., represented the seller, Waypoint Residential.

“The sale of this premier Orlando apartment community shows the demand in the multifamily sector remains robust,” said Ramey. “Investors continue to see returns that outpace the impact of economic headwinds, as vacancies remain low.”

The Newmark Group, Inc., team handled the Freddie Mac loan assumption process and attained an additional $5.7 million in supplemental financing for the buyer. Matt Williams, Kyle Schlitt, Rob Wright and James Maynard of secured the supplemental loan.

Luma Headwaters was completed in 2020. The property features four-story, elevator-serviced buildings and is located at 4000 Headwaters Way in southern Orlando.

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Newmark Group, Inc.,'s Ramey

About Lisa McDuffie

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.