Institutional Property Advisors Closes Multifamily Asset Sale in Orlando
November 24, 2025
ORLANDO, Fla., Nov. 24, 2025 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of The Adelaide, a 408-unit multifamily asset in Orlando, Florida.
“The Adelaide is a compelling value-add opportunity with more than a quarter mile of frontage on International Drive, one of the busiest thoroughfares in Orlando,” said Shelton Granade, IPA executive managing director. “The population within three miles is projected to grow by 5% through 2029, which bodes well for this submarket, and Orlando overall, which continues to rank No. 1 in the nation for job gains and household formation.” Granade, Luke Wickham and Justin Basquill of IPA represented the seller, Emma Capital, and procured the buyer, McKinley.
Constructed in 1987, the property is a mile from SeaWorld, within minutes of Walt Disney World Resort, the Orange County Convention Center, Universal Orlando Resort, and the new Universal Epic Universe theme park. Employers nearby include the headquarters of Darden Restaurants, Lockheed Martin, and Orlando Regional Medical Center. The property’s location provides residents with connectivity throughout Orlando via Interstate 4, State Road 417/the Central Florida GreeneWay, and State Road 528/Martin B. Andersen Beachline Expressway.
The Adelaide’s community amenities include ample green space, two resort-style swimming pools, fitness center, basketball and racquet ball courts, a barbecue area, playground, and soccer field. Apartments have open floorplans, full-size washers and dryers, and a private screened-in patio or balcony. The average unit size is 817 square feet.
“The Adelaide is a compelling value-add opportunity with more than a quarter mile of frontage on International Drive, one of the busiest thoroughfares in Orlando,” said Shelton Granade, IPA executive managing director. “The population within three miles is projected to grow by 5% through 2029, which bodes well for this submarket, and Orlando overall, which continues to rank No. 1 in the nation for job gains and household formation.” Granade, Luke Wickham and Justin Basquill of IPA represented the seller, Emma Capital, and procured the buyer, McKinley.
Constructed in 1987, the property is a mile from SeaWorld, within minutes of Walt Disney World Resort, the Orange County Convention Center, Universal Orlando Resort, and the new Universal Epic Universe theme park. Employers nearby include the headquarters of Darden Restaurants, Lockheed Martin, and Orlando Regional Medical Center. The property’s location provides residents with connectivity throughout Orlando via Interstate 4, State Road 417/the Central Florida GreeneWay, and State Road 528/Martin B. Andersen Beachline Expressway.
The Adelaide’s community amenities include ample green space, two resort-style swimming pools, fitness center, basketball and racquet ball courts, a barbecue area, playground, and soccer field. Apartments have open floorplans, full-size washers and dryers, and a private screened-in patio or balcony. The average unit size is 817 square feet.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.