Newmark Knight Frank Sells Polo Glen Apartments In Rockledge For $55.3M

The property involved in the recent transaction is the Polo Glen Apartments, a multifamily community located at 3603 Middleburg Lane in Rockledge, Florida. The 252-unit complex, constructed in 2008, offers a variety of floor plans including one-, two-, and three-bedroom options. The sale price for Polo Glen Apartments was $55.3 million. Continental Realty Corp (CRC) sold the property to an undisclosed buyer. The asset is situated on the Space Coast near Cocoa Beach.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $55,300,000.00
• Address: 3603 Middleburg Ln, Rockledge, FL
• Market: Rockledge
• Seller's Rep: Patrick Dufour (Newmark)
• Buyer: Unknown

Scott Ramey and Patrick Dufour from Newmark Knight Frank’s Multifamily Capital Markets team represented CRC in the sale of Polo Glen Apartments. CRC had acquired the property in 2016 for $38 million from Pollack Shores Real Estate Group based in Atlanta. During CRC's ownership, improvements were made to the community including renovation of interior units, the clubhouse, leasing office, business center, and fitness center. Notably, the fitness center now features a Peloton bike studio.