CBRE Brokers $31M Sale of Apartment Community in Metro Orlando

ALTAMONTE SPRINGS, FLA. — CBRE has brokered the $31 million sale of Charter Pointe, a 312-unit apartment community located at the corner of Ballard Street and South Ronald Reagan Boulevard in Altamonte Springs, roughly 10 miles north of Orlando. Jacksonville-based Michaelson Group purchased the property from Sarasota, Fla.-based Insula Cos. Built in the 1970s, the newly renovated, 258,000-square-foot property sits on 19 acres near Eastmonte Park. In addition to recent upgrades including new signage and roofs, Charter Pointe features a clubhouse, fitness center, two pools, pet spa and an outdoor kitchen. Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented the seller in the transaction.