Cushman & Wakefield Negotiates $36.4M Sale of Reflections Apartments

Reflections Apartments
Reflections Apartments

Jay Ballard and Ken Delvillar Represented GoldOller Real Estate Investments in the Disposition of the 336-Unit Suburban Orlando Multifamily Community

ORLANDO, October 5, 2017Cushman & Wakefield announced today that it has negotiated the sale of Reflections Apartments, a 336-unit suburban multifamily apartment community in Casselberry, FL.

Senior Directors Jay Ballard and Ken Delvillar represented GoldOller Real Estate Investments in the disposition. The RADCO Companies acquired the asset for $36.4 million ($108,333 per unit).

Reflections Apartments is a 336-unit, three-story suburban garden multifamily community built in 1984 on a ±14.60-acre site at 100 Reflections Circle in Casselberry. This location, just north of downtown Orlando, provides convenient access to Interstate 4 and U.S. 17/92 as well as Full Sail University, Rollins College and Winter Park Memorial Hospital.

Reflections Apartments offers a mix of one- and two-bedroom units. The average unit is 792 square feet. The average rent was $918 at the time of sale.

Units at Reflections Apartments feature elegant wood-style flooring, spacious bathrooms, central air, screened patios and balconies, high-speed internet, washer and dryer connections and valet trash service. Select units have lake or fountain views and natural stone fireplaces.

The community offers a clubhouse, swimming pool, barbecue area, covered parking, playground, state-of-the-art fitness center, complimentary fitness classes, business center and a 24/7 clothes care center.

Reflections Apartments is the seventh community in RADCO’s Florida portfolio. The company owns one other Central Florida asset, Lakeside at Winter Park.

“Reflections Apartments was a truly unrivaled, value-add investment opportunity,” said Ballard. “The property performed exceptionally well under GoldOller’s guidance, and there is significant headroom for growth going forward for RADCO.”

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.comwww.cushmanwakefield.com or follow @CushWake on Twitter.

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Reflections Apartments Photo
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