Cushman & Wakefield Brokers $23.75M Sale of Whispering Oaks and Southern Villas Multifamily Communities in Daytona Beach

DAYTONA BEACH, Florida — Cushman & Wakefield has arranged the $23.75 million sale of two adjacent multifamily townhome communities in Daytona Beach, Florida, the firm announced March 10, 2026. The transaction transfers 169 units across Whispering Oaks and Southern Villas from seller Starr Properties to ESO Equity Group, representing 93% of the total units in both associations.

Whispering Oaks and Southern Villas Transaction Details

Cushman & Wakefield Vice Chairs Mike Donaldson and Nick Meoli and Managing Director Greg Rainey represented the sellers, Tovah and Ty Lohman of Starr Properties, in the transaction. The combined sale price of $23.75 million equates to approximately $140,532 per unit across the two properties.

Whispering Oaks, located at 300 Forest Glen Blvd., comprises 109 townhome units averaging 1,249 square feet and was originally constructed in 1985. Southern Villas, situated at 239 Oak Tree Circle, includes 60 units averaging 1,214 square feet and was built in 1983. Both communities offer two- and three-bedroom floor plans and include a pool. The properties are located near Daytona International Airport, Daytona Speedway, and Embry-Riddle Aeronautical University.

"The sale of Whispering Oaks and Southern Villas represented an excellent opportunity to acquire a fractured townhome community in Daytona Beach," said Donaldson, Cushman & Wakefield Vice Chair. "There is tremendous opportunity to further renovate the community or sell the units individually in the future. What's more, the buyer, a repeat investor that has transacted with the Cushman & Wakefield listing team numerous times, plans extensive enhancements and renovation-capital projects to the property, which will make it one of the most desirable communities in Daytona Beach."

Value-Add Multifamily Strategy

ESO Equity Group, described as a repeat investor with the Cushman & Wakefield brokerage team, plans extensive enhancements and renovation-capital projects at both properties. The fractured structure of the communities — where units are individually titled — also preserves the option for future unit-by-unit resale, according to the brokers.

"We are continuing to see capital attracted to vintaged value-add communities where yields have been outsized and acquisition basis is compelling," said Meoli, Cushman & Wakefield Vice Chair. "While there has typically been a flight to quality the past few years in favor of newer construction, there is increasingly more interest to acquire well-located, value-add product throughout Florida at prices typically well below recent peak levels from several years ago."

About the Firms Involved

Cushman & Wakefield (NYSE: CWK) is a global commercial real estate services firm with approximately 53,000 employees across more than 350 offices in nearly 60 countries. The firm reported revenue of $10.3 billion in 2025 across its core service lines, which include Services, Leasing, Capital Markets, and Valuation. The Whispering Oaks and Southern Villas sale was handled by the firm's multifamily capital markets team.