Property is located less than two miles from Stetson University
Orlando, FL – January 6, 2015 – CBRE arranged the sale of Madison Carrington Place, located at 129 E. Villa Capri Circle, DeLand, FL, for $14.3 million. The 224-unit apartment community was completed in 1987 and has a current occupancy of 97%. CBRE exclusively represented the seller in the transaction, Equus Capital Partners, LTD.
“Investor interest in good tertiary markets like DeLand has been steadily increasing, “said Shelton Granade, Executive Vice President of CBRE Capital Markets, Multifamily. “Buyers can get more yield, and there's a powerful job story emerging in Volusia County with advances in health care and education employment.”
Madison Carrington Place is located just one mile from historic downtown DeLand and only minutes from Stetson University, Florida Hospital DeLand and the Florida Hospital Fish Memorial. The community features amenities such as a large pool and sun deck, business center, fitness center, lighted tennis, volleyball and recreation courts, car care center and private patios/balconies.
Shelton Granade, Luke Wickham, and Justin Basquill led the sales effort for CBRE, and have closed approximately $1.6 billion in apartment sales in Central Florida since 2013 to date.
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 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 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.