Press Release

CBRE Facilitates the Sale of 308-Unit Wisper Palms Apartment Homes in Orlando

2021 12월 28

CBRE has arranged the sale of Wisper Palms Apartment Homes, a 308-unit garden-style multifamily community located at 13308 Wisper Palms Way in Orlando, Fla.

Chip Wooten, Jeff Gray, Robert McEwan, Michael McEwan and Austin Weller with CBRE Capital Markets in Orlando partnered with Michael Regan and Francesco Carriera with CBRE Capital Markets in Tampa to represent the seller.

Built in 2004, Wisper Palms is a 30-building gated community featuring a mix of one-, two-, three-, and four-bedroom units with an average size of 1,273 square feet. Community amenities include private garages, walking trails, storage units, playground, business center, fitness center, and swimming pool with a spa.

“Wisper Palms garnered significant interest as a property offering investors significant upside by making modest amenity and interior enhancements. Investor regard remains high for post 2000s construction assets in these booming Central Florida markets like Orlando, Tampa, or Jacksonville,” said Mr. Regan.

He added, “Several well-qualified investors bid on this asset. Ultimately, the buyer assumed the existing debt and purchased a sub 3.0 percent cap on historical financials. The buyer saw tremendous upside through a full renovation strategy, management improvements, and rents significantly below market competitors.”

“The Orlando market is performing exceptionally well and continues to top the charts nationally for apartment fundamentals. We are very encouraged by the current demand and investor appetite and expect these trends to continue as we experience sustained population and job growth. The amount of new capital seeking to enter our market is tremendous,” said Mr. Wooten.

Wisper Palms is centrally located, allowing residents easy access to a diverse employment base including jobs in manufacturing, healthcare and medical research, information technology, aviation, and financial and business services. Residents also benefit from nearby access to over one million square feet of retail amenities at Waterford Lakes Town Center and Waterford Towers Retail and the second largest university in the country, University of Central Florida.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.