TAMPA, FL – July 30, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of St. Johns Lofts, a newly built, 175-unit apartment community in the Central Florida community of Sanford.

The HFF team marketed the property on behalf of the seller, Inland Atlantic Seminole Multifamily, LLC, a solely owned entity of Inland Atlantic Development Corporation.  NM Residential purchased the unencumbered asset.

Completed in 2017, St. Johns Lofts is located just east of Interstate 4 at 1840 Rinehart Road in Sanford, which provides easy access to the nine-million-square-foot Lake Mary/Heathrow office market and access into downtown Orlando within 20 miles.  The four-story property consists of a mix of one- and two-bedroom units.  Community amenities include a saltwater pool, outdoor kitchen, outdoor lounge areas, dog park, bocce ball court, fitness center and clubhouse with Wi-Fi and coffee bar.

The HFF investment advisory team included senior managing director Matt Mitchell, director Zach Nolan and analyst Tyler Swidler.

“St. Johns Lofts was designed to be affordable for renters with efficient floor plans averaging 786 square feet and rents of $1,053 at the time of marketing,” Mitchell said.  “The property filled a void in the market and leased up in just three months.”