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Michael Lopez Of RMR Residential Acquires 275-Unit Park Place Apartments In Oviedo For $62M

Property Image
SOLD
$62,000,000
Chris Chadbourne
Gidi Cohen
Michael Lopez

Florida

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MultiFamily
Sold 09/16/2025
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Property Image
SOLD

Michael Lopez Of RMR Residential Acquires 275-Unit Park Place Apartments In Oviedo For $62M

940 City Plaza Way

See Similar Deals
MultiFamily
Sold 09/16/2025
Chris Chadbourne
Gidi Cohen
Michael Lopez
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

The property asset involved in the transaction is a 275-unit multifamily community located at 940 City Plaza Way in Oviedo, which has a sale price of $62,000,000. This community, formerly known as the Park Place apartments, is 94% leased and was constructed in 2015.

Summary of transaction details:

Michael Lopez of RMR Residential acquired the property with plans for renovations as part of its 11-property Orlando portfolio, while Gidi Cohen represented CGI+ Real Estate Investments as the seller. Walker & Dunlop’s Chris Chadbourne served as the broker representing the seller in this transaction.

Players

Chris Chadbourne
Walker & Dunlop
Chris Chadbourne
8 deals$779.8M volume
BROKER
Michael Lopez
RMR Residential
Michael Lopez
1 deal$62M volume
BUYER
Gidi Cohen
Gidi Cohen
7 deals$337.3M volume
SELLER

Details

SOLD
IMAGE: Gidi Cohen, Michael Lopez & Chris Chadbourne DATE: 09/16/2025 ADDRESS: 940 City Plaza Way MARKET: Oviedo ASSET TYPE: Multifamily BUYER: Michael Lopez - RMR Residential (@RMRResidential) SELLER: Gidi Cohen - CGI+ Real Estate Investments BROKER: Chris Chadbourne - Walker & Dunlop (@WalkerDunlop) SALE PRICE: $62,000,000 UNITS: 275 ~ PPU: $225,455 NOTE: RMR Residential acquired the 275-unit Park Place apartments in Oviedo for $62M from CGI+ Real Estate Investments, rebranding the 94% leased community as Arium at Oviedo Park. Walker & Dunlop’s Chris Chadbourne represented the seller, while RMR plans renovations to the 2015-built property as part of its 11-property Orlando portfolio.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,306,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$220,272.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$293,911.63
Annual Debt Service$3,526,939.57