Westside Capital Group Acquires Property On Hiawassee Rd In Orlando For $45M With Buyer's Reps Duane Anderson And Jason Hague

The Residences at Veranda Park is a multifamily community located at 2121 S Hiawassee Rd, Orlando, FL. This five-story building, built in 2008, comprises 150 units with one-, two-, and three-bedroom floor plans averaging 1,239 square feet. The property is equipped with communal amenities including two fitness centers, two spas, a clubhouse, and a total of 482 parking spots. Additionally, it features 48,385 square feet of commercial leasable space on the ground floor, and the total transaction amount was $45,000,000.00.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $45,000,000.00
• Buyer: Westside Capital Group
• Buyer's Representative: Duane Anderson, Jason Hague - Marcus & Millichap
• Seller: Not disclosed
• Loan Amount: $31.5 million
• Loan Originator: Charles Foschini, Berkadia

The deal involved key representatives from Marcus & Millichap including Evan Kristol, Jason Hague, and Duane Anderson, who represented the buyer throughout the transaction. Westside Capital Group plans to update common areas and implement targeted management initiatives for the property.