Waypoint Puts Four South Florida Apartments Up For Sale
Waypoint Residential has put more than 850 units on the market for sale in what owners are describing as a potential value-add transaction. CBRE's Robert Given and his team have been tapped by Waypoint to sell the portfolio. The properties include Reserve at Ormond (here), a 272-unit property off Crowne Commerce Court in Ormond Beach; Cypress Club, a 169-unit property in Tamarac; Point at Naples (below), a 248-unit property off Great Blue Drive; and Reserve at Port St. Lucie, a 188-unit property off SE Tiffany Club Place.
Robert says the portfolio could be an opportunity for a mulitfamily investor to gain quick critical mass in South Florida's apartment market. “The properties have benefited from a strategic capital program,” he adds. Officials with Waypoint did not return calls seeking comment.