HFF announces $35.35M sale of Orlando-area transit-oriented multi-housing property
ORLANDO, FL – December 5, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $35.35 million sale of Station House, a 200-unit multi-housing property located adjacent to a SunRail train station in the Orlando suburb of Lake Mary, Florida.
The HFF team marketed the property on behalf of the seller, Epoch Residential. Robbins Property Associates purchased the offering free and clear of existing debt.
Completed in 2015, Station House is a four-story, elevator-access building with air conditioned corridors and controlled-access structured parking. The property’s one-, two- and three-bedroom units average 892 square feet and feature gourmet kitchens with designer custom cabinetry, stainless steel appliances and granite countertops, walk-in closets, spacious outdoor patios, 13-foot ceilings, soaking tubs, wood-style floors and electronic access. Community amenities include a two-story clubhouse with a second-story, open-air patio overlooking the resort-style swimming pool as well as a summer kitchen, grilling stations, fire pit, dog park and dog wash station, state-of-the-art fitness center, business center, library and game/social lounge. Station House is located at 188 E. Crystal Lake Avenue directly across from a recently opened SunRail station, which provides commuters access to surrounding destinations, including the Maitland office market, Winter Park’s Park Avenue, Florida Hospital’s Health Village and downtown Orlando.
The HFF investment sales team included senior managing director Matt Mitchell, director Zach Nolan and analyst Tyler Swidler.
“We are excited by the opportunity to acquire another quality multifamily asset in the vibrant Orlando metropolitan area and add it to our growing portfolio," said Steve Robbins, CEO and co-founder of Robbins Property Associates. “The Station House acquisition reaffirms our commitment to Lake Mary as a growing city. We look forward to upgrading the property’s amenities/services and to becoming a dedicated part of the Lake Mary community.”
About Epoch Residential
Epoch Residential is a fully integrated development, construction and management company that has managed over 100,000 multi-family units in more than 90 cities nationwide. The company has developed and built over 36,000 units in more than 55 cities nationwide since 1970, and has corporate offices in Winter Park, Florida.
Robbins Property Associates
Robbins Property Associates is a national multifamily owner-operator specializing in multifamily acquisition, repositioning and property management, currently owning over 12,000 multifamily communities in Florida, Maryland, North Carolina and Texas. Since 2009, the company has managed over 23,000 units or 67 communities, and has corporate operation offices located in Tampa, Florida.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.