ESG Equities, based in New York City, has picked up an Orlando area multi-family property in a deal valued at $22 million. The 390-unit gated community, Grand Reserve at Kirkman Parke, is located southwest of downtown near Universal Studios. The 22-acre multifamily complex built in 2000 is a three story property that includes 15 buildings and features one to four-bedroom units. The complex was 97 percent leased when it was purchased from the seller, ESG Equities. Darron Kattan, Kevin Kelleher, Zachary Ames and Robert Goldfinger of Franklin Street Real Estate Services in Tampa represented the buyer in the transaction.
“Central Florida’s multifamily market continues to perform exceptionally well, which reflects the region’s solid economic fundamentals, wage growth and increasing employment,” said Kattan, Managing Director at Franklin Street. “It was a very competitive bidding process shortly after entering the market.”