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Tuesday, January 06, 2009
Multi-Family

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2/11/2008ARA sells Orlando apartments for $25M
by Atlanta, Ga.-based Williams Asset Management has purchased the Copper Terrace Apartments in Orlando, Fla., for $25 million from Chicago, Ill.-based ERP Operating LP. The seller was represented by Kevin Judd and Dan Gasti of Apartment Realty Advisors. The 300-unit apartment complex is located at 1801 S. Kirkman Rd. Built in 1990, it is situated on 18 acres and contains 16 two and three-story buildings. The apartments sold for $11.1 million in November 1992. Judd is a senior VP with ARA and joined the company in 1999. He is a former development manager with Suffolk Construction Company and was a real estate appraiser of office, industrial and residential development properties throughout Florida. He earned his B.A. in business administration from Marshall University. Gasti is a VP with ARA and recently joined the company in 2007. Prior to that, he operated his own law office in which he specialized in construction law, contract disputes and civil fraud actions. He earned his J.D., M.S. and B.S. from the University of Florida. Address: 1801 South Kirkman Rd., Orlando, Fla. Size: 300 units Built: 1990 Filed Under: Multi-Family | | |
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