Berkadia Arranges $49M Orlando Community Sale

The company’s Cole Whitaker and Mary Beale worked on behalf of seller Aspen Square Management in the disposition of the 278-unit suburban asset.
Amber Lakes. Image courtesy of Berkadia
Amber Lakes. Image courtesy of Berkadia

Berkadia has closed the $49 million sale of Amber Lakes, a 278-unit community near Orlando, Fla., one of the most stable multifamily markets in the country. Senior Managing Director Cole Whitaker and Director Mary Beale represented the seller, Aspen Square Management. The firm’s Managing Director Jason Rice secured $36.8 million in acquisition financing on behalf of the buyer, Ashcroft Capital.

The garden-style property located at 4755 N. Goldenrod Road in the Winter Park suburb is within 5 miles of a wide range of dining, shopping and entertainment options including Target, Starbucks, Publix, a number of parks and several museums. The community is close to public transit routes and to the Central Florida Greenway, which connects the area to downtown Orlando, the city’s executive airport and the metro’s major employers.

Amber Lakes has a mix of studio, one-, two- and three-bedroom units. Apartments feature walk-in closets, dishwashers, hardwood floors and washers and dryers. Common-area amenities include a fitness center, two swimming pools, a sundeck, a lakeside beach, a tennis court, a playground and a dog park. Residents also have access to a dock on Lake Nan with complimentary kayak and paddle board rentals.

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