Crasqui Investments Acquires Ocean Oaks Apartments In Port Orange Multifamily Sale For $53M

Ocean Oaks Apartments, a 296-unit multifamily community located at 1645 Dunlawton Avenue in Port Orange, Florida, has been sold for $53 million. The buyer, Crasqui Investments, entered the Daytona market with this acquisition. The sale price of $53 million translates to approximately $179,054 per unit.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $53,000,000
• Market: Port Orange
• Address: 1645 Dunlawton Avenue
• Buyer: Crasqui Investments
• Seller: LIV Acquisitions - Ryan Griffin
• Brokers: Justin Basquill, Luke Wickham, Sean Williams & Shelton Granade - Institutional Property Advisors - Marcus & Millichap

This transaction marks Crasqui Investments' entry into the Daytona market. The deal included a $31.2 million, 10-year Fannie Mae loan. Institutional Property Advisors, represented by Justin Basquill, Luke Wickham, Sean Williams, and Shelton Granade of Marcus & Millichap, facilitated the sale of Ocean Oaks Apartments.