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Howard Lutnick Of Cantor Fitzgerald Acquires Orlando Multifamily Portfolio From Daniel Drimmer For $107.8M

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SOLD
$107,800,000

Florida

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MultiFamily
Sold 08/28/2025
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Property Image
SOLD

Howard Lutnick Of Cantor Fitzgerald Acquires Orlando Multifamily Portfolio From Daniel Drimmer For $107.8M

12530 Innovation Falls Drive & 3200 Innovation Falls Drive

See Similar Deals
MultiFamily
Sold 08/28/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

The transaction involves a multifamily portfolio located at 12530 Innovation Falls Drive & 3200 Innovation Walk Loop in the Orlando market, spanning 64 acres and comprising 539 units. The sale price for the portfolio was $107,800,000, resulting in a price per unit of $200,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $107,800,000
  • Buyer: Howard Lutnick - Cantor Fitzgerald
  • Seller: Daniel Drimmer - Starlight Investments
  • Lender: Freddie Mac
  • Mortgage Broker: Newmark
  • Units: 539
  • Average Price Per Unit: $200,000

The deal included the acquisition of Hudson at East with 275 units for $68.4 million and Eight at East with 264 units for $39.4 million. Financing for the transaction was secured through an $86.5 million loan from Freddie Mac, facilitated by Newmark, with the loan scheduled to mature in 2035.

Players

Newmark
Newmark
BROKERAGE
CL
Cantor Fitzgerald LP
BUYER
Starlight Investments
Starlight Investments
SELLER
Freddie Mac
Freddie Mac
LENDER

Details

SOLD
IMAGE: Daniel Drimmer & Howard Lutnick DATE: 08/28/2025 ADDRESS: 12530 Innovation Falls Drive & 3200 Innovation Walk Loop MARKET: Orlando ASSET TYPE: Multifamily ~ ACRES: 64 BUYER: Howard Lutnick - Cantor Fitzgerald SELLER: Daniel Drimmer - Starlight Investments LENDER: Freddie Mac (@FreddieMacCorp) MORTGAGE BROKER: Newmark (@Newmark) SALE PRICE: $107,800,000 UNITS: 539 ~ PPU: $200,000 NOTE: Cantor Fitzgerald bought a 539-unit Orlando multifamily portfolio from Starlight Investments for $107.8M, covering Hudson at East (275 units, $68.4M) and Eight at East (264 units, $39.4M). The deal was financed with an $86.5M Freddie Mac loan arranged by Newmark, maturing in 2035.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$5,749,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$382,990.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$511,027.00
Annual Debt Service$6,132,323.96