SANFORD, FL — Capstone Apartment Partners has brokered the sale of Cedar Creek Apartments for an undisclosed price to a private investment group based in New York City. The property was 60% occupied at the time of sale. Cedar Creek Apartments are located in a quiet, residential Sanford neighborhood within the Orlando MSA, and benefit from close proximity to I-4, the Seminole Towne Center Mall, and the Orlando-Sanford International Airport. The 140 unit, 1991 asset offers residents a swimming pool, clubhouse, and playground as well as units with spacious floor plans, fully-equipped kitchens, and central air. Enon Winkler, Deucie Bies, Jad Richa, and Brian Hunsicker of Capstone Apartment Partners represented the sellers in the transaction. New ownership intends to renovate the currently vacant units in order to improve occupancy and stabilize the property’s performance.
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