Insula Spots a Green Village near Altamonte Mall
- Jul 13, 2015
Insula Cos. has located a green island in the middle of Altamonte Springs. The Sarasota-based firm acquired Village Green, a 164-unit apartment community for $12.6 million. The company is focused on value-add multifamily deals in Florida, and its portfolio includes largely garden style properties in the Orlando MSA and the Tampa Bay Area.
Located at 112 Essex Ave., the property is directly opposite Altamonte Mall and also within walking distance of a Publix-anchored community shopping center. Built in 1970, the 140,000-square-foot apartment community features nine two-story concrete block buildings with apartments available in five different designs with up to three bedrooms and two baths. The apartments are air-conditioned and come with washer & dryer connections, garbage disposal, dishwasher and include a patio or balcony. The common-space amenities also include a laundry facility, a car care center and a picnic area
CBRE Group Inc. marketed the property and represented the seller, Harbor Group International in the transaction with a team led by Executive Vice President Shelton Granade, Senior Vice President Luke Wickham, and Assistant Justin Basquill of CBRE Capital Markets. The asset was 97 percent occupied at closing.
Photo credits: Insula Companies