Miami Based DB Partners LLC Sells 152-Unit Apartment Complex in Gainesville for $13.1 Million
The property was acquired by DB for $9.5 Million in late 2017
MIAMI, July 10, 2021 /PRNewswire-PRWeb/ -- DB Capital Partners, LLC (DB), a privately-held real estate investment company based in Miami, Florida, closed the sale of Hampton Forest Apartments, a 152-unit multifamily apartment building in Gainesville, Florida, for $13.1 Million. The property was acquired by DB for $9.5 Million in late 2017.
The property was managed by Michaelson Group, a real estate management company headquartered in Jacksonville, Florida. The transaction was brokered by Marcus &Millichap.
"We are pleased to have successfully completed our cycle of ownership of this quality asset and realized significant value in the process" said George Befeler, principal of DB and CEO of The Befeler Group. "This is consistent with our business model of acquiring well situated assets, rationally adding value, and either disposing of them or retaining them for long term growth" added George Befeler.
Hampton Forest Apartments is located at 7301 West University Avenue, Gainesville, Florida 32607, a few minutes from Celebration Pointe, one of the largest multi-use developments in North Florida comprised of more than one million square feet of dining, entertainment, shopping, class A office space, hospitality, luxury apartment homes and townhomes.
Headquartered in Coconut Grove, Florida, DB is owned by Luis Delgado and George Befeler of The Befeler Group. DB continues to actively pursue additional opportunities throughout the State of Florida. The firm continues to target strategic value-add multifamily apartment building deals that are below the institutional radar, with the intention of generating above-market returns. George Befeler and Luis Delgado bring DB over 60 years of experience in purchasing, repositioning, and selling multifamily assets.
George Befeler is the founder and CEO of The Befeler Group, a privately held real estate investment firm based in Coconut Grove, Florida, that focuses on acquiring and managing multifamily, office and hospitality properties with strong real estate fundamentals. The Befeler Group has owned and managed multiple commercial properties within the State of Florida for over 40 years.
Luis Delgado is a Miami based attorney and real estate investor and is an active multi-family investor throughout the State of Florida.
Media Contact
Sabina Covo, Sabina Covo Communications LLC, +1 3057816399, [email protected]
SOURCE DB Partners LLC
Share this article