CWK - Cushman & Wakefield arranges sale of Florida-based multifamily portfolio for $101M

Cushman & Wakefield ([[CWK]] -0.2%) arranged the sale of a five-property portfolio, totaling 1,011 apartment units located in Orlando and Tampa, for $101.25M.DASMEN Residential, a privately held real estate investment and management firm that owns and operates multifamily properties in major cities across the U.S., acquired the properties."There was significant upside to further renovate the communities and fully stabilize the assets with a potential to add $3M to the effective gross income once fully implemented," Executive Managing Director Mike Donaldson commented.The sellers invested $9M in recent capital expenditures and renovated approximately half of the portfolio units.

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Cushman & Wakefield arranges sale of Florida-based multifamily portfolio for $101M