{"id":1476,"date":"2018-10-15T14:15:51","date_gmt":"2018-10-15T18:15:51","guid":{"rendered":"https:\/\/www.meyer.media\/?p=1476"},"modified":"2018-10-15T07:47:35","modified_gmt":"2018-10-15T11:47:35","slug":"cushman-wakefield-negotiates-49-75m-sale-of-deerwood-village-apartment-homes","status":"publish","type":"post","link":"https:\/\/www.meyer.media\/2018\/10\/15\/cushman-wakefield-negotiates-49-75m-sale-of-deerwood-village-apartment-homes\/","title":{"rendered":"Cushman & Wakefield Negotiates $49.75M Sale of Deerwood Village Apartment Homes"},"content":{"rendered":"
\"Deerwood<\/a>
Deerwood Village Apartment Homes<\/figcaption><\/figure>\n

Jay Ballard and Ken Delvillar Represented Cortland in the Disposition of the 328-Unit Apartment Community in Ocala, FL<\/em><\/strong><\/p>\n

OCALA, FL, October 11, 2018<\/strong> \u2014 Cushman & Wakefield<\/a> has negotiated the sale of Deerwood Village Apartment Homes<\/a>, a 328-unit, garden-style, luxury multifamily community in Marion County.<\/p>\n

Jay Ballard<\/a> and Ken Delvillar<\/a> of Cushman & Wakefield\u2019s Florida Multifamily Team represented owner Cortland<\/a> in the disposition. An affiliate of Boston-based West Shore, LLC<\/a> acquired the asset for $49.75 million ($151,677 per unit).<\/p>\n

Deerwood Village Apartment Homes was constructed in 2006 and comprises 40, two-story residential buildings, one clubhouse and one maintenance building in a low-density, Big-House<\/em> design. The property offers a mix of one-, two- and three-bedroom units with an average size of 1,015 square feet and an average market rent of $1,266 ($1.24 per square foot). The community was 94% occupied at the time of sale.<\/p>\n

All units at Deerwood Village Apartment Homes are equipped with full-size washers and dryers, deep-soaking bathtubs, granite countertops and nine-foot or vaulted ceilings. Select units feature energy-efficient stainless-steel appliances, loft-style floor plans, front patios, lakefront views, wood-style flooring, electric fireplaces and upgraded lighting packages, plumbing fixtures and hardware.<\/p>\n

Community amenities include a completely renovated clubhouse and leasing center, resort-inspired swimming pool, WiFi caf\u00e9, car care center, dog park, business center, nature trail and 24-hour fitness center.<\/p>\n

Deerwood Village Apartment Homes is located on a \u00b137.6-acre site at 1850 Southeast 18th<\/sup> Avenue<\/a>. This location provides exceptional access to some of Ocala\u2019s largest employers, including Lockheed Martin, Monroe Regional Medical Center, Ocala Health System and The Vines Hospital.<\/p>\n

Cortland is known for excellence in value-add renovations. After acquiring Deerwood Village Apartment Homes in 2015, Cortland made resident-friendly improvements in the property\u2019s units, in addition to outstanding updates on the clubhouse, fitness center, pool area and building exteriors. The in-place unit renovation program included stainless steel appliances, granite countertops, new electronic key entry systems, undermount sinks and upgraded fixtures, interior hardware and light packages.<\/p>\n

\u201cDeerwood Village Apartment Homes represented a tremendous opportunity for investors to acquire a proven value-add asset in a strong multifamily market with limited supply,\u201d said Ballard. \u201cFurther, the property offers significant upside through the continuation of Cortland\u2019s capital improvement program.\u201d<\/p>\n

With its acquisition of Deerwood Village Apartment Homes, West Shore, LLC now owns 11 Florida multifamily communities in Clearwater, Gainesville, Melbourne, Naples, Ocala, Riverview and Tallahassee.<\/p>\n

Cushman & Wakefield’s Florida Multifamily Team is directed by Robert Given<\/a> and includes Ballard and Delvillar in Central Florida; Zachary Sackley<\/a>, Troy Ballard<\/a>, Neal Victor<\/a>, Calum Weaver<\/a> and Errol Blumer<\/a> in South Florida; Luis Elorza<\/a> and Brad Capas<\/a> leading West Florida; and Julie Bohn<\/a> in Jacksonville. Robert Kaplan<\/a>, Chris Lentz<\/a> and Mark Rutherford<\/a> facilitate debt, equity and structured finance transactions for the team throughout Florida.<\/p>\n

About Cushman & Wakefield<\/strong><\/p>\n

Cushman & Wakefield\u00a0(NYSE: CWK)\u00a0is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com<\/a> or follow @CushWake<\/a> on Twitter.<\/p>\n

Media Assets<\/strong><\/p>\n

Deerwood Village Apartment Homes Photo<\/a>
\nJay Ballard Headshot<\/a>
\nKen Delvillar Headshot<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Cushman & Wakefield has negotiated the sale of Deerwood Village Apartment Homes, a 328-unit, garden-style, luxury multifamily community in Marion County.<\/p>\n","protected":false},"author":1,"featured_media":1469,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[2115,50,98,218,49,2113,4,2110,700,29,2112,60,2111,2109,12,134,35,2114],"class_list":["post-1476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pr","tag-1850-southeast-18th-avenue","tag-apartments","tag-capital-markets","tag-central-florida","tag-commercial-real-estate","tag-cortland","tag-cushman-wakefield","tag-deerwood-village-apartment-homes","tag-disposition","tag-florida","tag-florida-multifamily-team","tag-jay-ballard","tag-ken-dellvillar","tag-marion-county","tag-multifamily","tag-ocala","tag-sale","tag-west-shore-llc"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.meyer.media\/wp-content\/uploads\/2018\/10\/deerwood-village-photo.jpg?fit=3000%2C2000&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p79IL5-nO","_links":{"self":[{"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/posts\/1476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/comments?post=1476"}],"version-history":[{"count":2,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/posts\/1476\/revisions"}],"predecessor-version":[{"id":1478,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/posts\/1476\/revisions\/1478"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/media\/1469"}],"wp:attachment":[{"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/media?parent=1476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/categories?post=1476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/tags?post=1476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}