Millburn & Co Acquires MultiFamily Asset In Orlando For $57M

The Place on Millenia is a 371-unit apartment community located along the I-Drive Corridor in Orlando, Florida. The property was sold for $57,000,000.00. The asset offers one- to three-bedroom floor plans and amenities such as a fitness center, clubhouse, and a swimming pool with sundeck and cabanas.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $57,000,000.00
• Address: 5215 Millenia BLVD, Orlando, FL, 32839
• Market: Orlando
• Seller's Representative: Kevin Judd (ARA Newark)
• Buyer: Millburn & Co

Scott Ramey and Kevin Judd of ARA Newmark represented the seller, B&M Management, in the transaction. Millburn & Co acquired the property. Additionally, Matthew Williams of NKF Capital Markets secured a seven-year, $40 million Freddie Mac acquisition loan for the buyer with two years of interest-only payments and a floating interest rate of 3.51 percent.