HFF Secures $35M Sale of Orlando Community
Epoch Residential sold the 181,276-square-foot community, which features one-, two and three-bedroom apartment units. The new owner intends to upgrade the property’s amenities and services.
By Alex Ciorogar
Station House in Orlando, Fla.
Robbins Property Associates has purchased Station House, a 200-unit apartment community in the Orlando suburb of Lake Mary, Fla., for $35.3 million. HFF marketed the property on behalf of the seller, Epoch Residential. The HFF investment sales team included Senior Managing Director Matt Mitchell, Director Zach Nolan and Analyst Tyler Swidler.
Located at 188 East Crystal Lake Ave., the property features one-, two- and three-bedroom apartment units totaling 181,276 square feet. According to Yardi Matrix, the four-story building is 95.5 percent occupied.
Completed in 2015, Station House is an elevator-access building with air conditioned corridors and controlled-access structured parking. Interior amenities include washers, dryers, microwave ovens and free Wi-Fi. Individual air conditioning and electric heating are just a couple of the services provided by the property. Interior amenities include gourmet kitchens with designer custom cabinetry, stainless steel appliances, granite countertops, walk-in closets, spacious outdoor patios, 13-foot ceilings, soaking tubs, wood-style floors and electronic access.
Vibrant Market
Common area amenities include:
- controlled access
- fitness center
- business center
- open-air patio
- clubhouse
- resort-style swimming pool
- summer kitchen
- grilling stations
- fire pit
- dog park
- library
- game/social lounge
- 326 parking spaces
“We acquired another quality multifamily asset in the vibrant Orlando metropolitan area, adding it to our growing portfolio,” said Steve Robbins, CEO & co-founder of Robbins Property Associates, in a prepared statement. “The Station House acquisition reaffirms our commitment to Lake Mary as a growing city. We look forward to upgrading the property’s amenities/services and to becoming a dedicated part of the Lake Mary community.”
Other Orlando multifamily properties that Robbins recently acquired include Enclave at Lake Ellenor, purchased within the last year for $26 million.
Image courtesy of Yardi Matrix
