Scott Schaeffer Of Independence Realty Trust Acquires Multifamily Property In Orlando For $86.5M

Independence Realty Trust acquired M2 at Millenia, a 403-unit multifamily property located at 4206 Eastgate Drive in Orlando for a transaction amount of $86.5 million. The property falls under the multifamily asset type, and the price per unit is approximately $214,640. The sale involved the assumption of a $59.5 million CMBS loan from U.S. Bank.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $86,500,000
• Units: 403
• Price Per Unit: $214,640
• Buyer: Scott Schaeffer - Independence Realty Trust
• Seller: Michael Baumann - BLD Group; JBS Capital Group
• Brokers: Ted Taylor & Kyle Butler - JLL

Scott Schaeffer represented Independence Realty Trust in the acquisition, while Ted Taylor and Kyle Butler acted as the broker representatives for the sellers, BLD Group and JBS Capital Group, in this multifamily transaction in the Orlando market.