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Daniel Drimmer Of Starlight Investments Sells 275-Unit Hudson At East Apartments For $68.4M

Property Image
SOLD
$68,400,000

Florida

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MultiFamily
Sold 08/14/2025
the dealdetailscomps
Property Image
SOLD

Daniel Drimmer Of Starlight Investments Sells 275-Unit Hudson At East Apartments For $68.4M

12530 Innovation Falls Drive

See Similar Deals
MultiFamily
Sold 08/14/2025
the dealdetailscomps

Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

The property involved in this transaction is a multifamily asset located at 12530 Innovation Falls Drive in Orlando. The asset consists of 275 units and was sold for a total price of $68,400,000, resulting in a price per unit of $248,727.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $68,400,000
  • Units: 275
  • Price Per Unit: $248,727
  • Seller: Daniel Drimmer - Starlight Investments

Daniel Drimmer, representing Starlight Investments, facilitated the sale of the 275-unit Hudson at East Apartments. The reason for the sale was to repay a $67 million loan, marking the liquidation of all the Starlight U.S. Multi-Family (No. 2) Core Plus Fund's investment properties.

Players

Starlight Investments
Starlight Investments
SELLER

Details

SOLD
IMAGE: Daniel Drimmer DATE: 08/14/2025 ADDRESS: 12530 Innovation Falls Drive MARKET: Orlando ASSET TYPE: Multifamily SELLER: Daniel Drimmer - Starlight Investments SALE PRICE: $68,400,000 UNITS: 275 ~ PPU: $248,727 NOTE: Starlight U.S. Multi-Family (No. 2) Core Plus Fund sold the 275-unit Hudson at East Apartments in Orlando for $68.4M to repay a $67M loan. The sale marks the liquidation of all the Fund’s investment properties.

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Net Operating Income (NOI)

$3,648,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$243,010.75
Cash-on-Cash Return-1.27%
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