Providence Real Estate Announces Acquisition of 212-Unit Infinity Residences at The Park Apartments Adjacent to Orlando’s Baldwin Park

ORLANDO, FL – Providence Real Estate, a multifamily owner-operator, announced the completion of the acquisition of the Infinity Residences at the Park apartments located beside the Baldwin Park master-plotted community in Orlando, Florida. The property was bought by the Providence Multifamily REIT, Inc., a Providence-managed private REIT that invests in value-add multifamily opportunities throughout the Southeastern United States.
Infinity was built in 1998 and consists of six residential apartment buildings and a clubhouse and leasing center. The property is located across the street from Baldwin Park, a 1,100-acre (445 hectare) master-plotted residential community that includes 1 million square feet (93,000 square meters) of premier office and retail space along with over 50 miles (80 kilometers) of walking paths and trails, many of which surround Lake Baldwin. Infinity is anticipated to undergo exterior and interior renovations and will be renamed Infinity off Baldwin Park.
Providence s CEO Alan Pollack stated, Providence continues to invest in high-growth markets such as Greater Orlando which achieved a remarkable 23% population increase, representing over half-a-million net new residents, from 2010 to 2020 according to the U.S. Census Bureau. Providence s Executive Vice President Kevin Finkel added, The acquisition of Infinity offers a tremendous opportunity to own an infill multifamily property with proven value-add renovation upside potential in a highly sought-after and affluent area of Orlando.

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Walton Street Capital Affiliate Acquires 180-Unit Gentry on M Streets Apartment Community in Lower Greenville Neighborhood of Dallas, Texas

DALLAS, TX – An affiliate of Walton Street Capital announced that it has bought a 180-unit garden-style community located at 3736 Glencoe Street in the Lower Greenville pocket of Dallas, Texas.
Built in 2015, the property features a mix of studio, one, and two-bedroom apartments that are currently 97% leased. Unit amenities include granite countertops, stainless-steel appliances, balconies and private yards on select units, and in-unit washers/dryers. Community amenities feature an outdoor kitchen and lounge, resort-style swimming pool, 24-hour fitness center, and conference room.
Gentry is located in the Lower Greenville and broader Highland Park region which features significant residential communities in the immediate area. Additionally, the Property is located adjacent to Southern Methodist University and features direct access to Glencoe Park, Katy Trail, and Mockingbird Station, one of Dallas well loved live-work-play developments.
The Gentry represented an attractive opportunity to buy a well-leased, high-quality asset in an infill location within the M-Streets neighborhood in Dallas. We are excited to expand our multifamily portfolio in markets that continue to benefit from strong job growth, said Robert Bloom, Managing Principal at Walton Street.

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Kittle Property Group Brings Critical Affordable Housing to Texas With Newly Constructed Laurel Vista Senior Apartments in Beaumont

BEAUMONT, TX – Kittle Property Group, headquartered in Indianapolis, Indiana, announced the grand opening of its newest development in Beaumont, Texas: Laurel Vista. This development is the company’s third property in Beaumont, joining Ancient Dowlen Cottages and Cypress Place.
Laurel Vista is located at 3400 Veterans Circle and is a new construction community open for residents 55 and over. Construction started on the property in early 2020 and all units were completed in February 2021. The on-site property team started accepting leasing applications for all units beginning in February 2021.
“Hurricane Harvey and the pandemic have shown us that affordable housing is more critical to the stability of our communities than ever,” said a Kittle Property Group representative. “We are proud to continue serving the residents of Beaumont.”
The property features 69 newly constructed apartment homes in both one- and two-bedroom floor plans, ranging from 795 square feet in a one-bedroom to 1,554 square feet in a spacious two-bedroom/two-bathroom home. A total of 60 apartments are available at income-based rates, with nine available at full market rates. Detached garages and on-site storage units are also available for rent.
Each apartment home comes with a wealth of amenities available to residents. Residents will delight in walk-in closets, wood-look floors, an open kitchen and living area, and washers and dryers in each unit. Laurel Vista is also a pet friendly community, so residents can delight in life with their favorite furry companions.
Community amenities at Laurel Vista include an on-site fitness center, business center, picnic pavilion, community room, dog park, and more. Management staff also hosts monthly community events to promote a friendly and welcoming atmosphere!
Residents will delight in a centralized location in Beaumont with simple access to Interstate 10 through the city. The property is located on a bus line and has restaurants, hospitals, banks, and more very close by. The Phelan West Shopping Center is also located within one mile of the property. The property was designed with the goal of making our residents’ lives simpler and more convenient. Our team is ready to help prospective residents and answer any questions they have.
Communities like Laurel Vista are often the result of collaboration and partnership between multiple entities. In this case, Kittle Property Group, Inc. was awarded $10M in tax credits (to be given over a 10-year period) from the Texas Department of Housing and Community Affairs (TDHCA) to build Laurel Vista.

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