Aging Boomers Drive Blaze Capital Partners to Acquire Active 55+ Community in Davenport
Blaze Capital Partners, with Virtus Real Estate Capital, has acquired The Pointe at Siena Ridge, a 163-unit, 55-plus, multifamily community in the Orlando submarket of Davenport, FL.
The acquisition is Charleston, SC-based Blaze Capital Partners‘ fourth acquisition in the active adult sector over the past five months following Hardy Springs in the Paulding County submarket of Atlanta, GA; Annabelle on Main in the Duluth submarket of Atlanta, GA; and Sage Stone Oak in San Antonio, TXs. The Pointe at Siena Ridge is Blaze’s first active adult investment in FL.
“As the baby boomer generation reaches retirement age, they are downsizing and hitting key life events that are motivating them to move in large numbers to the Sun Belt region,” said Eddy O’Brien, co-founder and managing partner of Blaze Capital Partners, a rental housing investment and development firm. “Fundamentally, the US is lacking a stock of housing solutions for this cohort, especially those with more active views of retirement, in the face of mounting demand.”