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Crocker Partners Sells Maitland Lakes For Over $28 Million After Successful Repositioning

February 18, 2020 / Crocker Partners
SHARESHARESHARE

Crocker Partners announced the sale of Maitland Lakes, a 174,000 square foot mid-rise office building, to Brightman-Gil Real Estate Investments for more than $28 million. Crocker acquired the asset in 2014 for $14.8 million, increasing price per foot by almost 90% with the sale and setting a high-water mark for an office asset of this vintage.  CBRE's Ron Rogg represented Crocker in the transaction. We repositioned Maitland Lakes through a combination of amenities and cosmetic improvements that were well-received by our tenants. They in turn renewed their commitment to us, making it the right time to sell this stabilized asset given the strong Orlando fundamentals and interest from the capital markets," said Angelo Bianco, Managing Partner of Crocker Partners. "Our team's hands-on, consistent approach in implementing our value-add business plan produced a home-run result.