{"id":1004125804,"date":"2015-08-20T11:09:20","date_gmt":"2015-08-20T19:09:20","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=357770"},"modified":"2022-03-04T17:47:14","modified_gmt":"2022-03-05T01:47:14","slug":"miami-investor-goes-for-engelwood-park-neighborhood","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/miami-investor-goes-for-engelwood-park-neighborhood\/","title":{"rendered":"Miami Investor Goes for Engelwood Park Neighborhood"},"content":{"rendered":"<p class=\"MsoNormal\">\n<div id=\"attachment_357786\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/Royal-Isles-orlando.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-357786\" title=\"Royal Isles orlando\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/Royal-Isles-orlando.jpg\" alt=\"Royal Isles in Orlando\" width=\"300\" height=\"240\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Royal Isles<\/p>\n<\/div>\n<p class=\"MsoNormal\"><a href=\"https:\/\/www.marcusmillichap.com\/\" rel=\"nofollow\">Marcus &amp; Millichap<\/a> has arranged the sale of a 264-unit, lender-owned apartment community in Orlando\u2019s Engelwood Park sub-market. The property, Royal Isles, is located at 803 Don Quixote Ave. near the 408 East-West Expressway and South Semoran Boulevard, one of the largest and most heavily traveled crossroads in Orlando . The community sold for $14.4 million.<\/p>\n<p class=\"MsoNormal\">The property includes 19 two-story buildings and one stand-alone structure that houses a leasing office. The two-story buildings are comprised of 80 one-bedroom one-bath units, 132 two-bedroom two-bath apartments and 52 three-bedroom two-bath units.<\/p>\n<p class=\"MsoNormal\">Evan P. Kristol, senior vice president of investments in Marcus &amp; Millichap\u2019s Fort Lauderdale office, and Still Hunter III, a senior director of Institutional Property Advisors, a division of Marcus &amp; Millichap, represented both parties in the transaction, the full identities of whom were not disclosed. The seller was a California-based private investor and the buyer was a Miami-based limited-liability company. According to <a href=\"https:\/\/matrix.pi-ei.com\/PropertyDetail\/All?MarketID=45&amp;PropertyID=73\" rel=\"nofollow\">Yardi Matrix<\/a>, Latitude Management Real Estate Investors of Beverly Hills, Calif. was the previous owner, who acquired the underlying lien against the real estate owned property in February 2014 with a $14 million loan.<\/p>\n<p><em>Photo credit: Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Marcus &amp; Millichap has arranged the sale of a 264-unit, lender-owned apartment community in Orlando&rsquo;s Engelwood Park submarket.<\/p>\n","protected":false},"author":35,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1493],"tags":[],"class_list":["post-1004125804","post","type-post","status-publish","format-standard","hentry","category-latest","category-orlando"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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