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Article: DONE DEALS.
- Article from:
- Units
- Article date:
- June 1, 1999
CopyrightCOPYRIGHT 1999 National Apartment Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CASCADES APARTMENTS in Orlando, Florida, has been sold for $14.2 million to Bradenton, Florida-based SMG AND ASSOCIATES. Boston-Based JOHN HANCOCK LIFE INSURANCE CO. sold the 304-unit community. The deal was brokered by CB Richard Ellis' MULTI-HOUSING PROPERTIES GROUP in Atlanta and Orlando. Built in 1987, Cascades features one-, two-, and three-bedroom apartments and an amenities package that includes a pool and tennis courts. The low interest rate environment and the community's proximity to major theme parks and their large employee base were factors favoring the deal.
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