CBRE Arranges $125.1M Sale of 300-Unit The Helix at Lake Mary in Orlando

CBRE has arranged the sale of The Helix at Lake Mary, a new 300-unit multifamily property in Lake Mary, Fla. Los Angeles-based IMT Capital purchased the property for $125.1 million.

CBRE’s Chip Wooten and Jeff Gray represented the sellers, Jim Heistand of Parkway Properties and Mark Walsh and Brett Bossung of Silverpeak, in the transaction.

“Investor demand was extremely strong during the marketing process, generating a wide variety of offers from well-qualified investors, including several core and core-plus institutional funds, private equity groups, family offices and foreign capital. Ultimately, the buyer selected was able to meet our preferred timeline and was not dependent on debt, which was very attractive in the current market environment,” said Mr. Wooten.

He added, “Multifamily is still one of the best performing asset classes within commercial real estate, and Central Florida is a target market for most investors, demonstrating strong fundamentals paired with a business-friendly political landscape.”

Built in 2021, The Helix at Lake Mary is located at 962 Bentstation Lane. The 11-building property offers a mix of one-, two- and three-bedroom floorplans averaging 1,122 square feet. It features a saltwater pool with lounge seating, grills, fire pit, cabana with a full kitchen, 24/7 fitness center, game room, Bocce ball court, package lockers, storage units, and private day workspaces.

The Helix at Lake Mary sits within Lake Mary Wellness and Technology Park, a 153-acre master-planned community anchored by Orlando Health, minutes south of the Interstate 4 and State Road 417.