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Millburn & Company Pays $57M for Orlando Apartment Complex

B & M Management Company Sells The Place on Millenia
December 12, 2017
Millburn & Company acquired the 371-unit The Place on Millenia apartment complex at 5215 Millenia Blvd. in Orlando, FL from B & M Management Company for $57 million, or about $154,000 per unit.

The 523,032-square-foot apartment community consists of one-, two- and three- bedroom units. Some amenities include a clubhouse, a resort-style pool and a sun deck. Potential renovations may raise rents to increase the profit yield at the property, which was 95 percent occupied at time of sale.

Kevin Judd and Scott Ramey with ARA Newmark represented the seller.

Please see CoStar COMPS #4074406 for more information on this transaction.
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