SANFORD, FL – Robbins Property Associates (“RPA”), a vertically integrated multifamily owner and operator, has partnered with a publicly-traded insurance company to buy Lake Monroe Apartments. The expansive 280-unit NGBS Green Certified complex was completed in 2020. The property, which was re-branded Vue on Lake Monroe, is located in the quickly expanding Sanford/Lake Mary submarket in Seminole County.
The property is centrally located with ease of access to Interstate 4 and the SunRail, which provides access to over 20.9 million square feet of corporate office space. The area provides a high proportion of healthcare, finance, and education jobs, including AAA, Deloitte, and multiple hospitals.
“Sanford/Lake Mary has high-growth potential and was relatively resilient during 2020. We expect these positive trends to continue due to the robust local job market and continued population growth,” said Neal Herman, Managing Director of Investments at RPA. “Vue at Lake Monroe provides the right balance of high-end interior finishes and amenities while remaining affordable in terms of competing with other brand-new product.”
Vue on Lake Monroe is a newly constructed luxury apartment community situated directly across from the Sanford Riverwalk. The community features picturesque views of Lake Monroe, a screened-in resort-style saltwater pool, a state-of-the-art strength and fitness center, and electric vehicle charging. Each unit boasts designer cabinetry imported from Italy, natural polished stone countertops, custom hardware, premium stainless-steel appliances, and hardwood-style flooring. With the historic downtown Sanford with its charming cafés, upscale restaurants, and trendy bars just minutes away, Vue on Lake Monroe sets the stage for a flawless living experience.
RPA will install the finishing touches to the interiors with modern kitchen tile backsplashes. Community amenity upgrades will highlight enhancements to the fitness center and pool, and the addition of a fenced bark park.
“Vue at Lake Monroe is well-suited to meet the growing demand from renters who prefer an urban lifestyle plus the comforts of suburban, waterfront living,” said Kristi King, Chief Operating Officer & Principal of RPA. “We are very excited to add this community to our Orlando portfolio.”

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TUCSON, AZ – San Diego-based Tower 16 Capital Partners, in partnership with Drake Real Estate Partners, has bought La Mirada Apartments, a 201-unit multifamily project in Tucson, Ariz. The property was bought from a private seller in an off-market transaction.
“We are excited to announce our second acquisition in the Tucson market,” said Tower 16 Co-Founder Mike Farley. “We believe that the demand drivers for multifamily housing in Tucson will continue to grow in the coming years, and we are excited to be part of that growth tale.”
Since its founding in 2017, Tower 16 has made similar moves into markets throughout the West, having bought close to 4,000 units in California, Las Vegas, Phoenix, Tucson and Denver. The company seeks markets with increasing demand for workforce housing driven by job growth and in-migration but with relatively low levels of new supply. According to company executives, Tower 16 intends to build a portfolio of over 1,000 units in the Tucson market over the next several years.
La Mirada Apartments is located at 4415 East Grant Road in Tucson, Ariz. The property is just minutes away from the I-10 freeway and only ten minutes from Downtown Tucson and the University of Arizona campus. The community consists of large two- and three-bedroom apartments with a clubhouse and two swimming pools. Tower 16 will be overseeing over $4 million in upgrades and renovations to the property including modernized unit upgrades, a new clubhouse, gym and updated pool areas. The company will also be adding outdoor amenities including barbeques, seating and outdoor gaming areas.
“We plot on making numerous upgrades to the property that will greatly enhance the tenant experience at La Mirada,” said Tower 16 Co-Founder Tyler Pruett. “It gives us fantastic satisfaction to watch the transformation of the property and the surrounding neighborhood through our efforts. We look forward to starting our work as soon as possible.”
Tower 16 partnered with Drake Real Estate Partners in the acquisition of La Mirada, the second venture in a programmatic relationship between the two firms.

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AUGUSTINE, FL – DLP Real Estate Capital announced its acquisition of the Chandler Park portfolio, amultifamily property portfolio, consisting of two communities in Owensboro and Paducah, Kentucky. This 560-unit portfolio is comprised of 1 bedroom, 2 bedroom, and 3 bedroom units and marks the companies’ first footprint in the Bluegrass State.
Don Wenner, Founder and CEO of DLP Real Estate Capital commented, “We are thrilled to not only make our mark in Kentucky, but more importantly, we’re excited to have an impact on hardworking individuals and their families by providing affordable homes in safe communities. Chandler Park offers higher luxury at affordable pricing.”
Chandler Park, Owensboro, built in 2014, is a 320-unit, multifamily complex located in Owensboro, the fourth largest city by population in the state. The city is the only metropolitan area in the country to have decreased its year-over-year unemployment rate from 4.4% to 4.2% (June 2019-2020) and has experienced immense growth in both businesses and economic development.
The property sits on over 17-acres with 17 residential buildings and includes a resort-style swimming pool, fitness center, and green space with grills. The one to three bedrooms apartments have open floor plans, patios and balconies, stainless steel appliances, granite countertops, and are pet friendly.
Chandler Park, Paducah, built in 2016, is a 240-unit, multifamily complex located in Paducah. Key economic drivers include transportation, manufacturing, and healthcare and the local economy is set to see exponential growth due to the City Block Project, a 3-acre multi use development in downtown Paducah.
The property sits on nearly 12-acres with 7 apartment buildings and includes a resort style swimming pool, expansive fitness center, clubhouse, and dog park. The one to three bedroom apartments have open floor plans, stainless steel appliances with granite countertops, and private patios and balconies, and are pet friendly.
The Chandler Park portfolio was brokered by Brian Devlin, Brandon Wilson, & John Seale of The Kirkland Company. Brian Devlin, Managing Partner commented, “Both Chandler Parks have unmatched amenities and brilliant locations to the city’s demand drivers. Their A quality finishes and superb design make these some of the best assets in the cities.”

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