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Triwest Multifamily Secures 208-Unit Class B Community in Winter Springs for $47M
Triwest Multifamily has acquired a 12-building, 208-unit apartment complex in the Orlando submarket of Winter Springs, FL for $47.3 million ($227,000 per unit). TriWest assumed the existing fixed-rate Freddie Mac loan.
Alan Soclof of Rosewood Realty Group represented Triwest. Aaron Jungreis of Rosewood Realty Group represented the seller, JSB Capital Group, which purchased the complex in June 2019.
The Class B asset at 1020 Chatham Pines Circle was built in 1990. The three-story buildings in the gated community sit on 16 acres and include clubhouse, fitness center, dog park, pool, basketball court, picnic areas and covered parking. The floor plans are a mix of one, two and three bedrooms.
According to Soclof, all units were renovated by prior ownership and the buyer plans to implement a light value add program of improvement with a low execution risk such as a tech package, tile backsplashes and washers and dryers.
- ◦Sale/Acquisition
