ORLANDO, FL – Robbins Property Associates, a Tampa-based vertically integrated multifamily owner and operator, has bought the Wisper Palms Apartment Homes. The property, which was re-branded Pointe Parc at Avalon, is located in the booming Central Florida market in East Orlando.
Pointe Parc at Avalon is centrally located just minutes from highly desirable retail and employment, including the open-air Waterford Lake Town Center, Lockheed Martin, Siemens, the Central Florida Research Park, and Florida Hospital. Pointe Parc residents also delight in an unparalleled location for education with simple access to A-rated local school programs, Valencia College East Campus, and the second-largest university in the country, The University of Central Florida.
“Pointe Parc at Avalon marks our sixth acquisition of the year, and we continue to target unique assets in high-demand, desirable locations,” said Neal Herman, Managing Director of Investments at RPA. “East Orlando’s combination of education, government, space, and technology sectors has led to accelerated job and area household income growth over the past decade. We expect these trends to continue, and the investment is well-positioned to benefit as a result.”
The exceptional 308-unit property features a well-balanced mix of one (22%), two (50%), three (23%), and four-bedroom (6%) floorplans. Completed in 2004, this community features a wide array of amenities, including 172 attached garages, 136 detached garages, walking trails, storage units, a children’s playground, and a business center. Robbins Property Associate’s comprehensive value-add program will include upgrading unit interiors to include sleek quartz countertops in kitchens and baths, modern tile backsplashes, stainless-steel appliance packages, and wood plank flooring throughout.
Community amenity upgrades will highlight a complete renovation and expansion of the clubhouse and leasing center, an expanded 24-hour, state-of-the-art fitness center, and a fenced-in community pet park. Additionally, RPA will modernize the resort-style freeform pool by adding new lounge furniture and updating the outdoor summer kitchen and dining pavilion.
“We observe that demand for low-density, townhome-style product outpaces traditional three- and four-tale construction, especially in suburban submarkets,” said Kristi King, COO at RPA. “RPA is excited to transform Pointe Parc at Avalon through a comprehensive amenity upgrade and interior renovation plot.”

Powered by WPeMatico

ORLANDO, FL – The Bascom Group has bought a 320-unit apartment community within the Orlando MSA in Florida. The property, Enclave at Lake Ellenor, was bought for $68,500,000 or $214,06 per unit through a partnership with East Hill Capital’s Duff Bedrosian and Leste Group, a Miami based investment manager. Enclave is the second property bought by Bascom in partnership with East Hill Capital and Leste Group. Starwood Property Trust provided the debt financing for the acquisition and was arranged by Charles Foschini, Christopher Apone, Shannon Wilson, and Scott Wadler of Berkadia. SD Cap will provide renovation management and Cushman and Wakefield will provide the property management.
Bascom’s Senior Vice President & Principal, Jim Singleton, stated, “Enclave at Lake Ellenor was a unique opportunity to buy a centrally located, ultra-low-density property with significant unrealized renovation potential in the rapidly growing Orlando market. Enclave is perfectly positioned within reach of business hubs, world-class attractions, and educational centers. Orlando benefits from a diverse and well-educated workforce, business-friendly government, and competitive tax climate, making the city an ideal location for businesses.”
Leste Real Estate US Managing Director Josh Patinkin, who led the investment in the 97.8 percent leased property for Leste Group, said, “We’re pleased to support the strategic renovation of this apartment property in Orlando’s quick-growing suburban market with our joint venture partners. This acquisition reflects Leste’s ability to identify multifamily workforce housing where our equity capital can be deployed to upgrade property contributing both to improved quality of life for residents of residential housing communities in the nation’s Sunbelt, and the generation of long-term value creation opportunities for our investors.”
Enclave at Lake Ellenor is located in Orlando, an area experiencing substantial growth due to Florida’s rapidly growing economy. The property’s proximity to major roads, such as Interstate 4 and the Florida Turnpike, allows convenient access to retail, entertainment, dining, and major employment centers throughout the Orlando metro. Bascom plans to renovate the units while presenting a significant discount to the price point of new construction. Aside from unit renovations, Bascom will enhance property exteriors and implement amenity additions, while improving operational efficiencies and strengthening their presence in the Florida market. Orlando’s affordable, low-density housing, pro-business environment, no state taxes, and tourist rebound since the pandemic have established the MSA as one of the most resilient apartment markets in the country.
Bascom’s Senior Vice President of Operations, Tony Ferrell, added, “Enclave at Lake Ellenor is extremely well-positioned for the team to implement institutional management and do a strategic renovation plot. Bascom will renovate unit interiors with new appliances, countertops, backsplash, cabinetry work, as well as plumbing and light fixtures. In addition, Bascom will modernize the clubhouse, fitness center, and pool areas. As the Orlando economy continues to rebound from the effects of the pandemic, in-migration trends are projected to persist, making this a fantastic opportunity for us.”

Powered by WPeMatico

SAN MARCOS, TX – Los Angeles-based Orion Real Estate Partners announced that it has bought The Timbers, a garden-style apartment community in San Marcos, Texas. Orion bought the 155-unit apartment community from The Jacobson Company who owned it since 2016 and plans to invest approximately $1.7mm in interior and exterior improvements.
The Property sits on a nine-acre, irreplaceable hilltop site overlooking downtown San Marcos and Texas State University (TXST), home to 38,000 students. San Marcos is well positioned as an increasingly attractive and affordable alternative to Austin, home to over 2.1 million people with notable employers such as Apple, Facebook, Oracle, Google, Dell, and Tesla. The Timbers is located just 30 minutes away from downtown Austin.
This is Orion’s sixth acquisition in the central Texas corridor, spanning from Austin to San Antonio, and the firm is focused on expanding its portfolio in the area. Orion has a favorable long-term outlook on central Texas and expects that the corridor will continue to outperform the nation in both job and population growth.
CBRE Multifamily Capital provided an acquisition loan through East West Bank, and Orion engaged Peak Campus, a national leader in student-housing, to provide property management services.

Powered by WPeMatico