Lakefront Orlando Community Commands High Price
Digested from “Rare Orlando Multifamily Trades Hands”
GlobeSt.com (5/20/15) LeClaire, Jennifer
The new owners of Laguna Oaks, a 360-unit property in the East Orlando submarket, are sure to profit from the area's year-over-year rental growth, especially given the property’s location on the 64-acre recreational Lake Fredrica.
A waterfront amenity such as this is few and far between in the Orlando metro area; thus there was a competitive bidding process for the gated community. The final sales price for Laguna Oaks — which also boasts boat access, two pools, a clubhouse, a community room and a fitness center — was $29.15 million.
The apartment community also comes with a 94 percent occupancy rate and strong potential for rent growth going forward.