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Smith Equities closes $37M bulk condo sale
ORLANDO - Smith Equities Real Estate Investment Advisors announced what is to date the largest bulk sale of unsold condominium units in Florida since the condo market downturn in 2007.
Developed in three phases, Belmont at Park Central, Charles Towne at Park Central, and Manor Row at Park Central consists of a total 1,081 condominium units. Gerald Smith, senior investment advisor, and Robert Smith, president of Smith Equities, were the exclusive agents representing the seller, a foreign lender, in the $37,600,000 bulk sale of the remaining 640 units. The price equates to $58,750 per unit or $56.22 psf.
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