Cushman & Wakefield Represented Advenir in the Disposition of the 408-Unit Multifamily Opportunity
ORLANDO, July 26, 2017 — Cushman & Wakefield announced today that it has negotiated the sale of Advenir at Broadwater, a 408-unit suburban multifamily apartment community in Orlando, FL.
Senior Directors Jay Ballard and Ken Delvillar represented Advenir in the disposition. Emma Capital acquired the asset for $47 million.
Advenir at Broadwater is a 408-unit, two-story suburban garden multifamily community built in 1988 on 22.9 acres at 6677 Tanglewood Bay Drive in Orlando. The property is centrally located in the heart of Orlando’s tourist/commercial corridor with visibility along International Drive and Westwood Boulevard. The property gives residents easy access to Orlando’s theme parks and Central Florida shopping destinations. Community amenities include two resort-style swimming pools and spas, a renovated clubhouse, a fitness center with free weights, a racquetball court, a business center, picnic areas, grilling station, Bark Park and on-site management.
This is the first Central Florida acquisition for Emma Capital, which assumed a Freddie Mac loan with six years remaining. Emma Capital will continue to execute a value-add renovation program on approximately 50 percent of the non-upgraded units.
“Advenir at Broadwater was an affordable alternative to the abundant pipeline of new multifamily construction in greater Orlando,” said Ballard. “This is a value-add opportunity in a premium location, with excellent access to all that Orlando has to offer.”
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.com, www.cushmanwakefield.com or follow @CushWake on Twitter.
Media Assets
Advenir at Broadwater Photo
Jay Ballard Headshot
Ken Delvillar Headshot
