M&C Snaps Up $56M Orlando Luxury Community
Completed in 2017 by Wood Partners, the 312-unit Alta at Eastmar Commons encompasses 14 three-story apartment buildings, as well as a two-story clubhouse.
By Alex Ciorogar
M&C Properties acquired a 312-unit East Orlando luxury community. Wood Partners sold the 15-acre asset for more than $56 million.
Completed in 2017 and located at 10038 Vista Laguna Drive, Alta at Eastmar Commons encompasses 14 three-story apartment buildings. Amenities include a fitness center, two-story clubhouse, eight detached garage structures, tech lounge with computer workstations, coffee bar, sports lounge with billiards room, conference room, separate cycle room, yoga studio, a pet park and a pet spa.
CBRE’s Shelton Granade, Luke Wickham and Justin Basquill represented the seller.
“Alta at Eastmar Commons is a community with distinctive features that have contributed to the property’s strong traffic statistics and consistent, robust leasing activity,” said Granade, vice chairman of CBRE Capital Markets, in prepared remarks. “This asset is a great investment in a market with extremely robust apartment fundamentals and the nation’s highest job growth. The property is well-positioned for rent gains now that it’s stabilized.”
Image courtesy of CBRE