ORLANDO, Fla. --- Hendricks & Partners, one of the nation’s largest and most active multi-family investment banking and research companies, recently negotiated the sale of Silver Terrace I and Silver Terrace II Apartments located on Rose Coral Drive in Orlando’s Pine Hills for $2.478 million.
Cole Whitaker, partner and director of the Southeast Division of Hendricks & Partners, negotiated the sale with associate partner Hal Warren in Orlando and senior investment advisor Jason Stanton in the firm’s Tampa office.
Hendricks & Partners represented the seller, Blue Valley Apartments, Inc. The buyer was not disclosed.
Silver Terrace I Apartments brought a sale price of $1,571,500 and Silver Terrace II Apartments sold for $906,600. Combined, Silver Terrace Apartments total 164 units in 93,312 square feet. The one-story garden style apartments built in 1987 range from studio to two-bedroom/two-bath with an average rent of $505.
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