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Gary W. Rollins Acquires Oviedo On The Park Multifamily For $94.1M

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SOLD
$94,100,000

Florida

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MultiFamily
Sold 11/17/2023
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SOLD

Gary W. Rollins Acquires Oviedo On The Park Multifamily For $94.1M

234 East Mitchell Hammock Road

See Similar Deals
MultiFamily
Sold 11/17/2023
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

The Ellington at Oviedo on the Park, a 297-unit apartment community in Seminole County, Florida, has been sold for $94.1 million. The property, located at 234 East Mitchell Hammock Road, is part of the Oviedo on the Park mixed-use development. It spans across 12 acres and features ground-floor retail spaces, including Jinya Ramen Bar and CFS Coffee.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $94,100,000
  • Units: 297
  • Price Per Unit: $316,835
  • Address: 234 East Mitchell Hammock Road
  • Market: Oviedo
  • Buyer: Gary W. Rollins - Rollins Inc
  • Seller: Brand Properties - Brand Morgan
  • Brokers: Brian Moulder & Chris Chadbourne - Walker & Dunlop

Connected to Atlanta billionaire Gary W. Rollins, CEO of Rollins Inc, TRR Ellington Investor LLC acquired the Ellington at Oviedo on the Park apartment community.

Players

Brian Moulder
17 deals$1.3B volume(904) 718-8222
BROKER

Chris Chadbourne
Walker & Dunlop
8 deals$779.8M volume
BROKER

SELLER

Details

SOLD
IMAGE: Chris Chadbourne, Brian Moulder, Brand Morgan & Gary W. Rollins DATE: 11/17/2023 ADDRESS: 234 East Mitchell Hammock Road MARKET: Oviedo ASSET TYPE: Multifamily ~ ACRES: 12 BUYER: Gary W. Rollins - Rollins Inc SELLER: Brand Properties - Brand Morgan BROKERS: Brian Moulder & Chris Chadbourne - Walker & Dunlop (@WalkerDunlop) SALE PRICE: $94,100,000 UNITS: 297 ~ PPU: $316,835 NOTE: The Ellington at Oviedo on the Park, a 297-unit apartment community in Seminole County, Florida, has been sold for $94.1 million to TRR Ellington Investor LLC, connected to Atlanta billionaire Gary W. Rollins, CEO of Rollins Inc. The property, part of the Oviedo on the Park mixed-use development, includes ground-floor retail spaces like Jinya Ramen Bar and CFS Coffee.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

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Cap Rate

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Cash Flow (Annual)-$334,317.42
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