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

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.