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News release

ORLANDO, FL

Premier Location Propels Sale of Pristine Orlando Apartment Complex

JLL closes sale of Casa Mirella for $50 million


ORLANDO, Aug. 24, 2015 - A best-in-class apartment complex garners one of the highest prices per unit for market-rate apartments ever achieved in Central Florida.  On behalf of Raia Properties JLL’s Capital Markets experts today announced the firm has facilitated the sale of Casa Mirella, a 276-unit apartment complex located in the Orlando submarket of Windermere. Raia Properties purchased the property for $50 million, or more than $181,000 per unit. 
 
International Director Jubeen Vaghefi, Managing Director Matt Wilcox and Managing Director Denny St. Romain led the JLL team on the transaction.
 
“Casa Mirella promises tremendous rental growth thanks to strong Orlando market fundamentals as well as a prime Windermere location,” said Wilcox. “Casa Mirella is a perfect long term position in the market.”
 
Casa Mirella is located in the premiere Windermere neighborhood, which offers close proximity to some of the most renowned residential real estate, retail venues and healthcare centers in Orlando. The property features expansive island counters in the kitchen, stainless steel appliances, contemporary cabinetry, screened patios, double vanities, full-size washer/dryers, and designer tile flooring in the bathrooms.
 
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2014 alone, JLL Capital Markets completed $118 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,700 specialists, operating all over the globe.
 
For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

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About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $56.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.