ZMR Capital has acquired Sonoma Pointe, a 216-unit multifamily community in Kissimmee, Fla. Newmark represented the seller, Bluerock Real Estate, and provided acquisition financing from Amerant Bank. The property last traded in 2017, when the current seller bought it from Eastwind Development for $40 million, Yardi Matrix data shows.
Completed in 2015, the garden-style property is located at 1300 Santa Rosa Drive and encompasses one-, two- and three-bedroom units between 800 and 1,256 square feet equipped with stainless steel appliances, granite countertops and washers and dryers. Common-area amenities include a swimming pool, an upgraded fitness center, a business center, a renovated clubhouse, car charging stations and 547 parking spots.
The three story, nine-building community is situated near multiple health-care facilities such as Loop Pediatrics and Institute for Advanced Cardiovascular Care, 5.7 miles from Florida Department of Health in Osceola County, 9.8 miles from Disney World and within 15 miles of Orlando Airport.
This marks ZMR Capital’s fourth acquisition in the Orlando metro, increasing its multifamily portfolio to 1,000 units in the last seven months. The company’s goal is to reach 4,000 units in Orlando by the end of the year.
Newmark Senior Managing Director Scott Ramey worked on behalf of the seller and Vice Chairman Brian Kochan represented the borrower.
Three Florida properties were involved in major recent transactions, with ZMR Capital landing $207 million in financing for one of them. In March 2022, the company bought The Palms at Palisades, a 125-unit multifamily asset in Brandon, Fla., from ACRE.