Cushman & Wakefield Arranges Sale of Two Florida Apartment Communities Totaling $72.6M

LAKELAND AND PLANT CITY, FLA. — Cushman & Wakefield has arranged the sale of two Florida apartment communities in separate transactions totaling $72.6 million. Luis Elorza, Brad Capas and Robert Given of Cushman & Wakefield represented Highland City Garden LLC in selling Century Ariva Apartments, a 312-unit complex in Lakeland. Atlanta-based Centennial Holding Co. bought the property for $54.6 million, or $175,000 per unit. Built in 2017, Century Ariva Apartments offers one-, two- and three-bedroom floor plans, as well as a resort-style pool, mini movie theater, 24-hour package center, internet café, grilling areas and a 24-hour gym. Elzora, Capas and Given also represented Lakeside Garden of Plant City LLC in selling Lakehouse Luxury Apartment Homes, a 125-unit community in Plant City, for $18 million, or $144,000 per unit. The community was delivered in 2015 and offers one-two- and three-bedroom floor plans. Amenities include an access gate, lake frontage with fishing areas, grill and picnic areas, 24-hour fitness center, business center, dog park and a swimming pool.