The Wymore Grove Apartments, a 200-unit, multifamily complex located in Orlando’s Altamonte Springs submarket, has been sold for $17.9m. Franklin Street negotiated the off-market sale on behalf of the seller, Wymore Grove Partnership, and the buyer, 360 Wymore ROI LP, an Israeli-based syndicator. Located near I-4 and the Maitland Center, the property, built in 1973, traded for $89,500 per unit. Common amenities include a swimming pool, tennis courts and a fitness center. The new owner is planning an extensive capital improvement program to upgrade the property’s exterior, common areas and unit interiors.
“The owner held the asset for 27 years, which is unique with respect to Florida apartments, and we attracted heavy demand from multiple investors,” said Darron Kattan, managing director of multifamily investment sales for Franklin Street’s Tampa office. “This transaction shows the continued strength of the Central Florida multifamily marketplace.”