Franklin Street has arranged the $11 million sale of Tuskawilla Park, a 45-unit, 48,780-square-foot mixed-use property in the Orlando suburb of Winter Springs. The property, which includes 41 condo-quality apartments and four ground-floor commercial units, boasts convenient walkability to Publix, Starbucks, Tijuana Flats, Care Now Urgent Care and numerous other retailers and services.
Norfolk, Virginia-based Cohen Investment Group sold the property to South Florida-based Terra Equity Group, an investment management firm that focuses on acquiring value-add multifamily assets. Franklin Street’s Tampa-based Multifamily Investment Sales Team of Darron Kattan, Zach Ames, Avery Jordan and Mark Savarese brokered the sale on behalf of both the buyer and seller.
“Tuskawilla Park offered an investor the opportunity to acquire a well-maintained asset with highly desired walkability to numerous retailers, restaurants and services that has helped keep occupancy rates high,” said Kattan. “The property has proven value-add potential, and the ability to continue upgrading unit interiors and community amenities will create the ideal multifamily investment in today’s competitive market.”
Tuskawilla Park is located at 1401 Blumberg Blvd., at the corner of Winter Springs Town Center.