Kissimmee apartments sold for $4.5 million

Insula Capital Management paid $4.5 million, or $34,615 per unit, for the Sun Club Apartments in Kissimmee, a 130-unit complex that was 98 percent occupied at the time of the sale.

Capstone Apartment Partners’ Jad Richa, Enon Winkler, Deucie Bies and Brian Hunsicker represented the buyer in the transaction.

“The seller was a bank that foreclosed on the property about a year and a half ago, and had addressed some of the external deferred maintenance during its period of ownership,” said Winkler,…