Colony Realty Partners Snaps Up High-End M-F Property
- Feb 03, 2015
Colony Realty Partners has acquired Art Avenue Apartment Homes, a high-end 300-unit community in southeast Orlando, according to the Orlando Business Journal. The Boston-based investment management firm paid about $47.1 million for the property, which was completed last year.
Located at 10201 Lee Vista Blvd., the Art Avenue complex is about 15 minutes from downtown Orlando. Two of the area’s largest employers are nearby: Lake Nona Medical City and the University of Central Florida. Amenities includes a clubhouse, Internet lounge, TV lounge, coffee bar, fitness center, children’s art room, outdoor fire pit and a saltwater swimming pool.
Art Avenue offers a variety of floor plans that range in size up to three bedrooms and three bathrooms. Design features include designer cabinetry, stainless steel appliances, walk-in closets, private garages, patios, balconies, 9-foot ceilings and large islands in the kitchens.
The seller, Rohdie Group, was represented by a CBRE Group Inc. team consisting of Executive Vice President Shelton Granade, Senior Vice President Luke Wickham and Sales Assistant Justin Basquill. In a statement, Granade reported that the complex was about 60% leased when it came to market.
Photo credits: CBRE Group Inc.