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NSD Partners Arranges $22.5 Million Sale of 192-unit Multifamily Asset in Florida
By: NSD Partners LLC
Blake Maher represented the seller, Northshore Development, on this transaction. "This was a great turn-around project for us and a full rehabilitation from the revived landscaping to the fully renovated units. We changed the narrative for this asset with fresh advertising and marketing campaigns and created something special," said Andrew Steel, Northshore Development. Maher added, "Oakwood Reserve is a fully renovated complex located in a can't miss submarket of Tallahassee, this is truly a win-win for both buyer and seller."
Located at 2616 Mission Road, Tallahassee, Florida, the 192-unit, two-story complex was completely renovated in 2020 and offers one- and two-bedroom units ranging from 600 to 900 Square Feet. Individual unit features include fully upgraded kitchens with granite counter tops and brand-new appliance packages, Vinyl plank wood flooring, private balcony/patio's, large living spaces, dishwashers, range, walk-in closets, tub/shower, and LED lighting throughout. Community amenities include refreshed swimming pool, updated dog park, redesigned business center, laundry care center, picnic area with grill station, multi-purpose sports, manager on site, conference rooms, outdoor living area's with alfresco dining, and a brand new state of the art workout facility.
Oakwood Reserve sits 1.5 miles northwest of Florida State's campus giving the community a quaint neighborhood feel while also allowing residents easy access to the area's top employers, retail, and entertainment. Residents are less than one minute away from Tennessee Street, one of Tallahassee's major arteries that leads into FSU. Along Tennessee Street,
residents have effortless access to major grocers such as Publix and the organic Lucky's market, as well as popular dining establishments including Maple Street Biscuit Company, Panera Bread, Mellow Mushroom, and the Lebron James-backed Blaze Pizza.
NSD Partners is a leader in multifamily property sales and capital market transactions, having completed over $300 million in property financing and sales volume since 2019. The sale of Oakwood Reserve Apartments at $22.9M, marks the second large-scale transaction for NSD Partners in the past 5 months.
About NSD Partners
NSD Partners, headquartered in Orlando, Florida is a boutique full service real estate firm. The company provides a comprehensive range of capital solutions for all commercial real estate asset classes, as well as investment sales brokerage services. NSD Partners originated in 2019 and since then has been one of the fastest growing firms in Florida. Offices located in Orlando and West Palm Beach.
About Northshore Development
Founded by Franz Hanning and Andrew Steel, Northshore Development is a mid-market mixed use and apartment development firm that focuses on Florida's growing rental market. The Northshore team has built over 20,000 units in their combined career and financed over $5 billion of real estate assets. They currently maintain a pipeline of approximately 1,200 units under development.
NSD Partners LLC
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