Orlando residential portfolio sold to Meritage for $68m

Orlando residential portfolio sold to Meritage for $68m

Published at: 2017-12-04 15:34 | Author: CIJ USA
The Patterson Court Apartments in Orlando, Fl. has been acquired by a a joint venture of Miami-based Fifteen Group and San Francisco-based Meritage Group in a $68.65 million deal. Located in the heart of the tourist district at 8151 Patterson Woods Dr, the 384 unit property rest on a 21 acre site. The property is minutes away from Walt Disney World, SeaWorld, the Orlando Convention Center and the Orlando Vineland Premium Outlets. “Meritage targets high-quality, recurring-revenue assets that can successfully navigate economic cycles and have compelling long-term prospects. A key component of our strategy includes building long-term relationships with operating partners like Fifteen Group, who have demonstrated success and share our value investment philosophy,” said Jared Halperin, a Meritage MD who leads the firm’s real estate investment strategy.

Similar Stories:

Tzadik Management buys 6 Florida apartment assets
Miami-based Tzadik Management Group has refinanced the recent purchase of a 6-asset multi-  »
Blue Magma Residential teams with NCP on $34m apartment portfolio
Tampa-based Blue Magma Residential and its joint venture partner New York-based NCP Enterp  »
S2 Capital wins $50m in financing for Jacksonville multifamily investment
Texas-based S2 Capital has secured a $50.3 million loan for Matthews Crossing, a Class B m  »
Morgan Properties pays $277m for Maryland-D.C. resi portfolio
Morgan Properties has paid $277.5 million for a four-property portfolio consisting of 2,72  »
Hurricane Hermine had the entire state of Florida on the edge of its seat in September. It   »
South Florida’s condo market is readying for a soft landing rather than the crash that m   »
There are approximately 17,000 units in Miami in presale, sold or under construction. Abou   »
The same year Orange County builders pulled 11,000. Fast forward to 2010 and those numbers   »