Jay Ballard and Ken Delvillar Represented the Owner, an Affiliate of Carter-Haston, in the Disposition of the 263-Unit Apartment Community in Ocala, FL
Jay Ballard and Ken Delvillar of Cushman & Wakefield’s Florida Multifamily Team represented the owner, an affiliate of Nashville-based Carter-Haston, in the disposition. A partnership of Houston-based ApexOne Investment Partners and Gainesville, FL-based The Collier Companies acquired the asset.
Grand Reserve Apartment Homes is a luxury multifamily community developed in 2003 comprising 21 one- and two-story residential and ancillary buildings. The property offers one-, two- and three-bedroom units with an average size of 1,031 square feet and an average market rent of $1.03 per square foot. Grand Reserve Apartment Homes was 93.9% occupied at the time of sale.
“The Ocala multifamily market continues to attract significant interest from investors far and wide,” said Ballard. “The region’s fundamentals remain strong, driven by exceptional job growth, growing demand and constrained supply.”
Cushman & Wakefield’s Florida Multifamily Team is directed by Robert Given and includes Ballard and Delvillar in Central Florida; Zachary Sackley, Troy Ballard, Neal Victor, Calum Weaver and Errol Blumer in South Florida; Luis Elorza and Brad Capas leading West Florida; and Julie Bohn in Jacksonville. Robert Kaplan, Chris Lentz and Mark Rutherford facilitate debt, equity and structured finance transactions for the team throughout Florida.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.