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TruAmerica Multifamily Lands Another Orlando MF

TruAmerica Multifamily acquired Island Club, a 472-unit Class B apartment community in Orlando, FL from the Michaelson Group for $64 million. Built in 1990, Island Club is a gated property featuring a mix of one, two, and three-bedroom apartment homes situated on a low-density 42-acre site.

Located at 1401 S. Kirkman Rd. in the desirable Metro West submarket near Downtown Orlando, the property sits across the street from 26,000-student Valencia College. It is also near 35,000 jobs at Universal Orlando Resort and Orlando Heath Regional Medical Center.

TruAmerica’s Matthew Ferrari says, “We continue to look at opportunities and build upon our already significant presence in the greater Orlando area.”

The Island Club is TruAmerica’s seventh asset purchase in Orlando, and boosts the Los Angeles-based real estate investment firm’s Florida holdings to more than 4,200 units.

CBRE’s Shelton Granade, Luke Wickham and Justin Basquill represented the undisclosed seller. CBRE’s Brian Eisendrath arranged financing.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition
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