Newmark Arranges $64M Sale of Ascend Waterleigh Village, With $45M Freddie Mac Loan, in Winter Garden

Newmark has arranged the sale of and $45 million in financing for Ascend Waterleigh Village, a newly constructed, 280-unit Class A multifamily community in Winter Garden, Florida, within the Orlando metropolitan area, the firm announced Oct. 1. D.R. Horton sold the property to Millburn & Company for $64 million, and the buyer's acquisition loan was provided by Freddie Mac.

Sale of Ascend Waterleigh Village

Newmark Vice Chairman Scott Ramey, Directors Brad Downing and Paul Grant, and Associate Grant Bretzlaff represented seller D.R. Horton in the transaction. The $64 million price works out to approximately $228,571 per unit.

"Ascend Waterleigh Village presented an opportunity to acquire a newly delivered, highly amenitized Class A community in one of the Orlando region's most dynamic growth corridors," Ramey said. "The combination of the property's quality, location and access to strong residential demand generated significant interest from investors seeking well-positioned multifamily assets."

$45 Million Freddie Mac Financing for Millburn & Company

Newmark Vice Chairmen Matthew Williams and Brian Kochan and Vice President Rob Wright secured the Freddie Mac financing on behalf of the buyer, Millburn & Company. The $45 million loan represents roughly 70% of the purchase price and matures in 2033.

Williams said the transaction required coordination across the sponsor, Freddie Mac and Newmark teams, particularly given the compressed diligence and closing timeline. "We moved quickly to lock the index early in the loan process, reducing rate exposure for the Sponsor and providing greater certainty around proceeds and pricing ahead of closing," Williams said. "Working closely with Freddie Mac, we were able to complete the transaction in less than 45 days from execution of the loan application."

Property and Horizon West Location

Delivered in 2025, Ascend Waterleigh Village is located at 16200 Ascend Village Lane in Horizon West, one of the Orlando area's fastest-growing master-planned communities. The property is also marketed as Waterleigh Village Luxury Apartments. The community offers one-, two- and three-bedroom residences featuring quartz kitchens, nine-foot ceilings, full-size in-home washers and dryers, and screened private patios or balconies. Amenities include a resort-style saltwater pool and pavilion, a 24-hour fitness center, an entertainment club room and a cyber café with private micro-offices.

The property sits adjacent to a Publix-anchored retail center and is near neighborhood parks and A-rated schools. It is also close to Hamlin Town Center, Flamingo Crossings Town Center and Winter Garden Village, and is less than 10 minutes from Walt Disney World and Orlando Health's Horizon West medical campus. Access is available to the I-Drive attractions corridor and to employment centers in downtown Orlando.

Orlando Multifamily Market Context

The sale price implies a per-unit valuation above the Orlando market's first-quarter 2026 transaction median of $192,300 per unit. The comparison is not exact, because the median spans different asset classes, ages and submarkets, while Ascend Waterleigh Village is a newly built Class A property in a high-growth corridor.

Orlando's multifamily market has been shifting from supply-driven weakness toward gradual stabilization. Class A vacancy was 10.4% in the first quarter, compared with 6.2% for combined Class B and Class C properties, indicating that recent supply pressure has been concentrated in the upper tier. Approximately 9,100 units were expected to be delivered in 2026, below 2025 levels, and the number of units under construction was roughly 40% below the prior year. Net absorption over the preceding 12 months totaled approximately 8,000 units. Average cap rates were approximately 5.25% to 5.75% year to date in the first quarter.

Market data varies by source. Cushman & Wakefield reported 92.0% stabilized occupancy in the first quarter, down 70 basis points year over year, while Northmarq reported overall vacancy of 8.7%. The differences reflect varying definitions, coverage areas and treatment of recently delivered properties. The reported price should not be read as evidence of a broad Orlando repricing, as the sale involves a 2025-delivered Class A asset.

National Multifamily Trends

According to Newmark Research, U.S. multifamily absorption reached 187,000 units in the second quarter, the strongest quarterly level in a year. The under-construction pipeline declined to approximately 2.7% of existing inventory, multifamily loan originations increased 26% year over year, and investment sales remained on pace for a third consecutive year of growth.

About Newmark

Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate advisor and service provider to institutional investors, owners, corporations, occupiers and lenders. For the 12 months ended June 30, 2026, Newmark generated revenues of more than $3.6 billion. As of that date, Newmark and its business partners operated from over 195 offices with more than 10,000 professionals across four continents.

Sources

Newmark press release, Oct. 1, 2026: Newmark Arranges Sale and Financing of 280-Unit Ascend Waterleigh Village in Orlando MSA