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

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.