Fieldstone Properties have sold an Orlando area multifamily asset to Minneapolis-based apartment development and management company Dominium Management Services. The 304 unit rental community, Chowder Bay Apartments, is located at 4700 Rio Grande Avenue and sold for $21.28 million. The gated community amenities include a swimming pool with sundeck, fitness center, lighted tennis courts and a children’s playground. Kevin Kelleher, Zachary Ames and Robert Goldfinger of Franklin Street Real Estate Services in Tampa represented both parties in the transaction.
“The asset was sold without the need to put effort into a wide scale marketing effort,” said Kattan, Managing Director at Franklin Street. “This transaction is clear evidence of the continued insatiable demand for apartment investments in Central Florida.”