ARA Newmark Arranges $55.5 Million Sale of 336-Unit Multifamily Community for Conversion to Student Housing

by Katie Sloan

Orlando, Fla. — ARA Newmark has arranged the $55.5 million sale of Arden Villas, a 336-unit multifamily community located in Orlando.

The property will be converted into a student housing community serving the nearby University of Central Florida. Scott Ramey, Patrick Dufour and Ryan Lang of ARA Newmark represented the seller, Pollack Shores, in the transaction. New York City-based TH Real Estate acquired the property. Shared amenities at the community include a swimming pool with an outdoor lounge and grilling stations; a clubhouse with televisions and an entertainment bar; an indoor game room; bocce ball court; and full-size basketball and tennis courts.

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