Sanford Community Sold Shortly After Completion
- Aug 20, 2015
By Balazs Szekely, Associate Editor
A brand-new Class A apartment community traded hands just a few months after it was completed. Located about 20 miles north of Downtown Orlando in Sanford, the 360-unit Elan Towne Center is almost completely surrounded by retail developments.
The community, located at 12500 Solstice Loop, is directly adjacent to a Walmart Supercenter, Gateway Plaza and the Seminole Towne Center shopping mall. It also has a number of major employers in its surroundings, such as AAA, JP Morgan Chase, Verizon and Deloitte. It features a large resort-style pool, spacious clubhouse, fitness center, summer kitchen and dog park.
CBRE Group Inc. marketed the property and arranged the deal on behalf of the seller. The team was led by Executive Vice Chairman Shelton Granade, Senior Vice President Luke Wickham and Assistant Justin Basquill of CBRE Capital Markets. “The property was completing the lease-up when taken to market, and the strong investor demand was a testament to the desirable product and compelling employment story in the nearby Lake Mary Heathrow Office Park,” said Granade.
Construction of the property was completed in early 2015.