Madison Manor apartments sold for $17.78 million on June 22.
American Residential Communities of Winter Park sold the property through Madison Manor LTD.
Lincoln Avenue Capital Management of Santa Monica, California, bought the property through Madison Manor Apartments LLC.
The four-story apartments were built on 11.8 acres in 2007 at 7400 Hogan Road.
The community has 160 units. The per-unit sales price is $111,140.
American Residential Communities bought the undeveloped property for $950,000 in January 2006 from Naomi P. Duffy and Patricia Q. Frye, both of Jacksonville, and Thomas C. Quina of Fort Pierce.
The apartments comprise one-, two- and three-bedroom units from 623 to 1,058 square feet. Rent information was not available.
Amenities include a pool, fitness center, tanning salon, grill, picnic area, high-speed internet and laundry facilities.