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Camden Acquires Recently-Constructed Florida MF for $90M
Houston-based Camden Property Trust completed the acquisition of a recently-constructed 299-home apartment community in Orlando for roughly $90 million. The community, formerly known as 420 East, is a nine-story downtown high-rise built in 2016 by McLean, VA.-based Jefferson Apartment Group. The property will be renamed Camden Thornton Park.
The asset features a fourth floor pool and amenity deck, 24-hour concierge, retail space and a three-story parking garage. Located within the highly desirable Thornton Park Neighborhood, the property is walkable to many downtown office buildings, Lake Eola Park and several popular entertainment venues.
Camden’s Richard J. Campo says, “We believe the purchase price is 5-10% below current replacement cost, and the acquisition will produce a stabilized yield of approximately 5%.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

