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RK Properties Acquires 285-Unit Multifamily In Apopka From Wood Partners For $86.25M

2423 Areca Palm Drive
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This MultiFamily property located in FL was sold for $86,250,000 over 2 years ago. The brokers of the deal were Matt Wilcox, Tyler Swidler, and Brett Moss

Located at 2423 Areca Palm Drive in Apopka, this multifamily property was recently sold in a transaction that took place on December 23, 2021. The property, consisting of 285 units, was acquired by RK Properties, represented by William “Rance” King, Jr. The seller, Wood Partners, was represented by Joseph Keough. The deal was facilitated by Berkadia, who served as the broker.

Summary of transaction details:

  • Property Type: Multifamily
  • Sale Price: $86,250,000
  • Units: 285
  • Price Per Unit: $302,632
  • Buyer: RK Properties - William “Rance” King, Jr.
  • Seller: Wood Partners - Joseph Keough

This transaction marks a significant sale in the Apopka market, with a property value of $86,250,000. RK Properties, led by William “Rance” King, Jr., saw potential in this multifamily asset and successfully completed the purchase. On the other hand, Wood Partners, represented by Joseph Keough, decided to divest this property. The involvement of Berkadia as the broker further streamlined the deal and ensured a smooth transaction process.

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Deals
  • Location
    2423 Areca Palm Drive, Apopka, Florida 32703, United States2423 Areca Palm Drive, Apopka, Florida 32703, United States
  • Sale Price
    $86,250,000$86,250,000
    $104 PPSF$104 PPSF
  • Area
    822,540 SF822,540 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    3 Brokers, 1 Agency3 Brokers, 1 Agency

Agents

Tyler Swidler

Tyler Swidler

Deals8
Financed$609.8M

Matt Wilcox

Matt Wilcox

Deals6
Financed$354.3M

Brett Moss

Brett Moss

Deals10
Financed$745.8M

Agency

Berkadia

Berkadia

Agency
Deals1097
Volume$45.7B

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Deal Summary

SALE IMAGE: William “Rance” King, Jr. & Joseph Keough DATE: 12/23/2021 ADDRESS: 2423 Areca Palm Drive MARKET: Apopka ASSET TYPE: Multifamily BUYER: RK Properties - William “Rance” King, Jr. SELLER: Wood Partners - Joseph Keough BROKER: Berkadia SALE PRICE: $86,250,000 UNITS: 285 ~ PPU: $302,632

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2423 Areca Palm Drive

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