Albert M. Berriz Of McKinley Acquires Multifamily Community In Casselberry For $21M

The property asset involved in this transaction is a multifamily apartment community known as Soraya, located at 1485 Ash Circle in Casselberry, Florida. The property consists of 184 units and was sold for a total of $21 million, resulting in a price per unit of approximately $114,130. The facility, built in 1973, features one- and two-bedroom apartments with rental rates ranging from $999 to $1,719 per month.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $21,000,000
• Units: 184
• Price Per Unit: $114,130
• Buyer: Albert M. Berriz
• Buyer Represented By: McKinley
• Seller: National Property Management Associates Inc
• Broker: Berkadia

The transaction was facilitated by Berkadia, which played a crucial role in brokering the sale between the buyer, Albert M. Berriz, and the seller, National Property Management Associates Inc. Notably, National Property Management acquired the property for $5 million in 1999 before this sale. The deal reflects a significant appreciation in value over the years.