Acquisition Portfolio

Arbor Lakes - Sanford, FL

On March 9, 2011, the Fund purchased 83 units of a 282-unit apartment-condo conversion called Arbor Lakes in the city of Sanford in the Orlando metropolitan area. Arbor Lakes is a charming gated community in the Lake Mary area, with amenities that are second to none. Experience a quiet location, nestled among mature trees and gorgeous landscaping, with convenient access to upscale shops, employment, restaurants, entertainment and schools, as well as I-4 and the 417. Arbor Lakes assures its residents the finest in neighborhood living. The property is stable 95%+ occupancy and we are well on our way to integrating the property into our portfolio.

Financial Performance

With its very high occupancy (greater than 95%), Arbor Lakes is projected to earn a property cap rate of 5.6% in 2011, with rents averaging about $0.82 per square foot. Fund management has noted improvements in the Orlando rental market and are expecting significant increases in rental rates to occur over the next 12 to 18 months. 

Photo Gallery

Below are photos of the Riverwalk project. Click on the thumbnail to view a larger version of the photo.