Winter Springs, FL
Multifamily Property Investment
This property consists of 41 new luxury condominiums and four ground floor retail units located in a new town center environment in Orlando, Florida. The foreclosed units were originally priced in the mid $300s and were purchased substantially below current market and replacement cost. Prior to closing, the units were leased as luxury apartments. The property is located in a well-established, upper middle class submarket and is surrounded by beautiful landscaped gardens. The town center is anchored by a Publix grocery store and includes a variety of restaurants and shop space tenants.
An upscale rental property with strong cash flow was created from a failed new condominium development. The asset is unique in the market, positioned adjoining a new retail town center development. Isis is the only new multifamily asset within the town center and has enjoyed full occupancy.