Silver ND I LLC & Pier ND LLC Acquire Multifamily Property In Orlando For $101.25M

The multifamily property located at 335 N Magnolia Avenue in Orlando has been sold in a transaction. The sale was handled by Institutional Property Advisors - Marcus & Millichap, represented by brokers Shelton Granade, Luke Wickman, and Justin Basquill. The property was sold by Novarge Group to buyers Silver ND I LLC and Pier ND LLC. The sale price for the property was $101,250,000, with a total of 320 units. This translates to a price per unit of $316,400.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $101,250,000
• Address: 335 N Magnolia Avenue, Orlando
• Market: Orlando
• Buyer: Silver ND I LLC & Pier ND LLC
• Seller: Novarge Group
• Brokers: Shelton Granade, Luke Wickman, and Justin Basquill - Institutional Property Advisors - Marcus & Millichap
• Units: 320
• Price Per Unit (PPU): $316,400

The transaction of the multifamily property involved Silver ND I LLC and Pier ND LLC as buyers, and Novarge Group as the seller. Shelton Granade, Luke Wickman, and Justin Basquill, who are associated with Institutional Property Advisors - Marcus & Millichap, represented the seller in the deal. The final sale price for the property was $101,250,000, with a total of 320 units. This transaction marks a significant deal in the Orlando market.