CBRE Arranges $64M Sale of Island Club Multifamily Community in Orlando
ORLANDO, FLA. — CBRE has arranged the $64 million sale of Island Club, a 472-unit multifamily community in Orlando. The asset is situated at 1401 Kirkman Road, about six miles west of downtown Orlando. Built in 1990, Island Club offers one-, two- and three-bedroom floor plans. Amenities include a car care center, tennis court, volleyball court, two lake-side swimming pools, playground, game room and fitness center. Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented the undisclosed seller in the transaction. Brian Eisendrath of CBRE originated a 10-year Freddie Mac loan on behalf of the buyer, TruAmerica Multifamily. The acquisition loan features five years of interest-only payments.