ORLANDO, FL – A celebratory groundbreaking ceremony took place to mark the commencement of construction on East Park Village Apartments. The 264-unit multifamily development is located at 10735 Moss Park Rd. in the Lake Nona neighborhood of Orlando. The project is backed by serial entrepreneur Dr Kiran Patel.
Dr. Kiran Patel said, “We bought this land eight and a half years ago with the vision of a large mixed-use project and I am pleased to see it come to fruition. This location is incredible and is ideal for any young family starting their lives.”
The $65 million apartment project is part of a $200 million mixed use development and is developed by the Onicx Group. The apartments will feature 335,000 square feet of class A residential apartments including a swimming pool with outdoor kitchen and recreational area, fitness center with spin/yoga room, business center with individual workstations, detached garages, and a playground. The apartments will range in size from one to three bedrooms. With construction now underway, the project is estimated to be completed in early 2024.
Situated adjacent to a nature preserve, the project is the first to break ground in the larger East Park Village Development that will include a medical office building, a hotel and retail spaces. It was designed by The Lunz Group, a Lakeland-based architectural firm. “The Lunz Group is proud to be working alongside the Onicx team to design this new apartment complex for the East Park Village Center,” said Bradley Lunz, President of The Lunz Group. “As a firm, we believe that the focus in multifamily design should be on making positive living experiences, fulfilling one of the fundamental needs of humans. When the project was submitted for building permit earlier this spring, it was, at the time, the largest construction permit sought in 2021 in the Orlando market. We are excited and humbled to be able to serve our communities by making spaces, like East Park Village, that benefit the greater excellent.” The community will be professionally managed by Orlando-based ZRS Management.
Multifamily-focused builder Live Oak Contracting will be the general contractor for the project. “We are expanding our regional footprint with this mixed-use development in Lake Nona. The net migration of Orlando over the last decade justifies the need of a project of this scale and magnitude,” said Dhvanit Patel, President and CEO of Onicx Group. Arjun Choudhary, Vice President of Onicx Group commented on the focus that Onicx Group is placing on the quality of amenities being offered, saying, “Our project will have top of the line amenities and cater to the urban professionals who live in the area.”
The location of East Park Village Apartments will be a desirable factor for residents. In its vicinity, there are trendy restaurants, many healthcare options, and an array of brilliant public schools to choose from. Residents will also delight in proximity to the Orlando International Airport and all the amenities the greater Orlando area has to offer.

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JACKSONVILLE, FL – KKR, a leading global investment firm, announced that KKR Real Estate Select Trust Inc. ( KREST ) and RPM Living Investments ( RPM Living ), a full-service multifamily management, investment and development company, have bought The Beach House Apartments, a multifamily property in Jacksonville, Florida. The transaction is KKR s first multifamily investment through KREST, a continuously offered, registered closed-end fund designed to deliver access to income-oriented private real estate investments.
Completed in 2010, The Beach House is a 228-unit, garden-style multifamily complex located in the Jacksonville Beaches submarket, approximately one mile from public beach access and in close proximity to Jacksonville s well loved beachside entertainment and shopping destinations. The property features luxury interiors, private patios and balconies, and variety of modern amenities, including a swimming pool, fitness center and business center. RPM Living will operate The Beach House and oversee a number of upgrades to ensure the property continues to provide a high-quality residential experience.
We are excited to complete our first residential investment for KREST with the buy of this premium apartment complex located in the highly desirable Jacksonville Beach neighborhood, said Michael Friedland, Managing Director at KKR. We are continuing to deepen our footprint in the quick-growing Sunbelt region and believe this beach-adjacent property offers attractive value to a wide range of residents who are choosing Jacksonville for its fantastic lifestyle and employment opportunities.
The Beach House’s fantastic location coupled with Jacksonville’s current competitive market is what attracted us to this investment and we’re looking forward to further expanding our presence in the Southeast and Sunbelt region,” said Josh Kahn, Chief Operating Officer, Investments at RPM Living.
The investment is part of KREST s stabilized real estate investment strategy, one of the fund s three primary investment strategies, which focuses on thematically-driven, income-generating real estate in high growth markets, including well-leased multi-family. Since launching a dedicated real estate platform in 2011, KKR has grown real estate assets under management to approximately $33 billion across the U.S., Europe and Asia as of June 30, 2021. KKR s global real estate team consists of approximately 130 dedicated investment professionals, spanning both the equity and credit business, across 12 offices and nine countries.

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CHICAGO, IL – Turner Impact Capital, one of the nation s largest real estate investment firms dedicated to social impact, has expanded its efforts to address the country s urgent housing affordability crisis with the acquisition of an additional multifamily housing community in the Chicago metropolitan area.
The 448-unit Clayson Apartments community in Palatine, IL was bought earlier this month by Turner Impact Capital s Turner Multifamily Impact Fund II. The transaction increases the affordable workforce housing stock bought by the Fund and its predecessor, Turner Multifamily Impact Fund I, to more than 1,600 units in Chicagoland, including 614 units in the Sunset Lake community and 576 units in the Timber Lake Apartments community. In total, the Turner Multifamily Impact Funds have bought 11,361 units in metropolitan areas throughout the nation, serving over 20,000 low- and moderate-income residents.
Turner Impact Capital s unique housing strategy aims to help tackle the nation s severe housing affordability crisis, which poses a pervasive and growing burden for working families. Amid an uneven and uncertain post-pandemic economic recovery, and with rents once again rising at historic rates, millions of people risk losing their homes in the coming months, highlighting the urgent need for solutions.
The pandemic and resulting economic turmoil have revealed stark disparities throughout our society and deepened the housing crisis nationwide, said Turner Impact Capital CEO Bobby Turner. Our innovative investment model puts stable, high-quality housing within reach for families and individuals and generates strong risk-adjusted returns for investors. The model proves that doing excellent and doing well need not be mutually exclusive.
The Turner Multifamily Impact Funds buy, preserve, and enrich critically-needed naturally occurring affordable housing for working individuals and families in urban communities throughout the country. In addition, the Funds deliver resident-focused programs designed to improve tenants quality of life, reduce negative environmental impact, and enhance property operations. The firm s housing portfolio currently comprises 28 apartment communities in densely populated, ethnically diverse metropolitan areas, including Atlanta, Austin, Chicago, Dallas-Fort Worth, Houston, Las Vegas, San Antonio, Seattle and Washington, D.C.
Turner Impact Capital s original housing fund, Turner Multifamily Impact Fund I, invested nearly $700 million to buy 7,840 workforce housing units occupied by more than 13,000 residents nationwide. In December 2020, the firm closed its second, larger housing Fund, which will enable the firm to buy and manage up to 10,000 additional units. These units – such as Clayson Apartments – are affordable to residents earning less than the area median income.
Turner Impact Capital s investment model has proven resilient and allowed us to continue delivering on our social, financial, and environmental mission throughout the pandemic, said Gee Kim, the firm s President of Multifamily Housing Initiatives. We take pride in benefitting working families by delivering stable affordable housing and resident enrichment services, and we are excited to expand our impact in the Chicago area.
The nation s third-largest metro area, Chicagoland ranks as one of the world s largest and most diversified economies. Clayson Apartments offers proximity to key transportation and employment hubs in the city s northwest suburbs, including Rosemont/O Hare, North Cook and Schaumburg.
Clayson Apartments features an expansive clubhouse and fitness center, resort-style pool, bocce ball and volleyball courts, playground, laundry facilities and business center. As part of its targeted sustainability initiatives, the Fund will install low-flow toilets, Energy Star certified appliances, LED lighting, HVAC replacements and more. Residents will also benefit from a broad mix of community-tailored resident enrichment services, including afterschool homework help, employment and rental help, healthcare access and fitness activities, and neighborhood watch programs. These programs will be offered both in person and virtually, through a resident portal and other online channels.
The Turner Multifamily Impact Funds are a core component of Turner Impact Capital s holistic approach to social impact investing. The firm has raised nearly $1.5 billion in capital, on course to surpass more than $5 billion in investment potential while directly impacting some 125,000 lives in underserved communities throughout the United States. By harnessing market forces, the firm s investments are sustainable, scalable, and durable – improving lives and strengthening communities while earning strong financial returns for socially conscious investors.
Turner Impact Capital also manages the Turner-Agassi Education Facilities Funds to facilitate the development of best-in-class schools in underserved communities across the United States, as well as the Turner Healthcare Facilities Fund, which delivers community-serving healthcare facilities to proven healthcare providers while improving access to quality care for residents of low- and moderate-income urban communities.

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