SUNRISE, FLA. — David Schwadrom has sold Lakeside Villas, a 116-unit, build-to-rent property in Sunrise, 36 miles north or Miami, for $23 million. The buyer is a joint venture consisting of MAP Communities, Highline Real Estate and 340 Properties. JLL arranged a $15.5 million acquisition loan on behalf of the buyer, while Marcus & Millichap arranged the sale on behalf of Schwadrom.
The asset, built in 1984, had not traded during the past 30 years, approximately. The property sits on 14 acres and features single-family, two-bedroom, two-bathroom villas with private entrances and patios. JLL’s team was led by Max La Cava and Joshua Odessky. Marcus & Millichap was represented by Daniel Cunningham, Evan Richardson, River Rhoads, Dillon Majeski and Cory Sanchez.