IS News & Transactions

Berkadia Completes $20 Million Sale of Multifamily Property in Kissimmee, FL

2/28/2017




Berkadia announced today the recent sale of The Park at Sorrento, a 208-unit, multi-family property in Kissimmee, Florida. Managing Director Cole Whitaker of Berkadia’s Orlando office, Senior Director Jason Stanton of Berkadia’s Tampa office, and Director Greg Rainey of Berkadia’s Jacksonville office completed the $20 million sale, which closed on January 27. 

Located in Florida, the sale was orchestrated by Tampa-based, Blue Roc Premier, and the buyer was Michaelson Real Estate Group, LLC based in Jacksonville.

“This transaction represented the opportunity for the purchaser to acquire a completely renovated community in a quality suburban location outside of Orlando,” said Whitaker.

Built in 1974, The Park at Sorrento features one-, two- and three-bedroom units with fully equipped kitchens and balconies or patios. Residents can enjoy community amenities such as laundry facilities, a pool, a fitness center, a playground, and an outdoor grilling area. 

Located at 900 Woodside Circle, The Park at Sorrento provides convenient access to N. John Young Parkway and W. Irlo Bronson Memorial Highway. The property is less than 10 miles from Walt Disney World and 18 miles from the Orlando International Airport. Top employers in the area include Osceola Regional Medical Center and Florida Hospital Kissimmee.