Millenia apartments trade for $23 million

A Miami-based multifamily group purchased Esplanade Apartments, with 186 units in the Millenia area of Orlando, for $23.25 million, records show.

purchased the gated community built in 2008 at 5337 Esplanade Park Circle. Shelton Granade, Luke Wickham, and Justin Basquill represented the seller.

secured a $17.43 million loan for the purchase by Bayshore, which now has eight properties and 1,100 units in Florida. Berkadia South Florida Senior Managing Director Mitch Sinberg and Senior Director Brad Williamson provided a Fannie Mae 10-year, fixedrate loan with five years’ interest, at a 75 percent loan-to-value ratio. Chad Freedman, of

Bayshore. represented undertaking is on a parcel long owned by the Summit and located next to Hyatt Place Orlando Universal. So far, Summit has invested $5.1 million on the project and expects to fund the remainder with cash from operations, working capital, and advances on a $450 million senior unsecured credit facility, according to Summit’s firstquarter report.

The state group governing real-estate brokers and agents cited Bruce Elliott, president of Orlando Regional Realtor Association, for failing to report a 2012 plea on boating infraction. Elliott pleaded no contest to charges of reckless operation of a vessel five years ago in Seminole County. He did not report his plea to the state, as required by law, and said last week his attorney at the time had wrongly advised him.

Last summer, an anonymous complainant brought the matter to the attention of the state Department of Business of Professional Regulation and the agency launched an investigation and then filed a complaint March 30, records show. The matter is expected to be heard by the Florida Real Estate Commission in coming months.

leased 13,280 square feet at 2160 Premier Row, Orlando. Wilson McDowell, of CITE Partners, represented the landlord.

leased 4,920 square feet at 6735 Currency Drive, Orlando. Bobby Isola represented the landlord.

A St. Cloud group affiliated with a healthcare company purchased the former building at 2801 13th Street, St. Cloud, for $590,000.

affiliated with

purchased the building with 2,542 square feet from CenterState and split the lot. Veronica Malolos, a broker with

completed the sale. The bank built a new facility prior to closing its existing space.