The Glenn acquired from Heather Glen Holding Company
Orlando, FL – February 5, 2016 – CBRE Investment Properties arranged the sale of The Glenn, a luxury apartment community at 10801 Heather Ridge Circle in Orlando, Florida. The 396-unit complex was acquired from Heather Glen Holding Company LLC by Insula Companies for $42 million. CBRE’s Shelton Granade, Luke Wickham, and Justin Basquill provided exclusive representation to Health Glen Holding Company.“Although community amenities and exterior features of The Glenn were extensively upgraded in recent years, the interiors still presented the new ownership with a great value-add opportunity. As an added attraction, this well-appointed community occupies a very high-demand location near the University of Central Florida,” said Mr. Granade, CBRE Vice Chairman.
The Glenn features three pools with sundeck and tanning areas, a clubhouse, sand volleyball, and a newly constructed 2,500-square-foot fitness center with spin and yoga room. Constructed in 1986 and updated in 2014-15, the community was 95% occupied at closing.
Mr. Granade and his Central Florida Multi-Housing team have executed more than $6 billion in apartment transactions in the Orlando area.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
