Porter Payne Of Centennial Holding Company Acquires 330-Unit Multifamily Community In Wildwood For $47.2M

The transaction involved a multifamily asset located at 6629 Dan Diciolla Drive in Wildwood, FL, consisting of 21.8 acres and comprising 330 units. The property was sold for $47,200,000, which equates to a price per unit of $143,030. The community was completed in 2024 and is predominantly leased, featuring 288 apartments and 42 townhomes.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $47,200,000
• Buyer: Porter Payne - Centennial Holding Company
• Seller: Judd Bobilin - Chance Partners
• Brokers: Cliff Taylor, Joe Ayers, Kyle Butler & Ted Taylor - JLL
• Lender: Freddie Mac
• Mortgage Brokers: Melissa Quinn, Matt Kafka & Tyler Ford - JLL
• Units: 330
• Acres: 21.8
• PPU: $143,030

Centennial Holding Company acquired the property from Chance Partners, facilitated by JLL, which arranged a $40.5 million acquisition loan from Freddie Mac. The asset targets workers serving the rapidly growing retirement population in the area, representing a strategic investment in a high-demand market.