November 4, 2019— Berkadia announces it has arranged the sale and acquisition loan of Amber Lakes, a 278-unit garden style community in the Winter Park suburb of Orlando, Florida. Senior Managing Director Cole Whitaker and Director Mary Beale of Berkadia’s Orlando office represented the seller, West Springfield, Massachusetts-based Aspen Square Management. Managing Director Jason Rice of Berkadia’s Dallas office secured the loan on behalf of New York-based Ashcroft Capital.
“The Orlando metro area has significantly outpaced the nation in job creation, seeing a 3.6 percent increase over the past 12 months compared to a 1.5 percent average over the same period nationwide,” said Whitaker. “The continued rate of job growth coupled with elevated in-migration could keep upward pressure on rents, despite a strong influx of units expected to come online next year.”
Built in 1974, Amber Lakes is located at 4755 North Goldenrod Road. Studios, one-, two- and three-bedroom units include hardwood floors, walk-in closets, dishwasher, and washer/dryer. Community amenities include two resort-style pools, lounging sundeck with cabanas, white sand lakeside beach with hammocks, access to dock and Lake Nan, complimentary kayak and paddle board rentals, fitness center, tennis court, playground, bark park, and covered parking.
Situated northeast of Orlando, Amber Lakes is found near major transit routes and employers. Central Florida Greenway is about five minutes away, offering direct access to downtown Orlando and Orlando Executive Airport. Amber Lakes is situated in Winter Park with top-rated schools. Full Sail University, located 1.8 miles southwest, offers degrees in entertainment, media, and arts, but does not have dorms or on-campus housing.