Robbins Property Associates Expands in Florida Market With the Acquisition of Wisper Palms Apartments in Orlando
Wisper Palms Acquired and Repositioned as Pointe Parc at Avalon
ORLANDO, Fla., December 20, 2021 (Newswire.com) - Robbins Property Associates ("RPA"), a Tampa-based vertically integrated multifamily owner and operator, has acquired 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 enjoy an unparalleled location for education with easy 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-story 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 plan."
ABOUT ROBBINS PROPERTY ASSOCIATES
Robbins Property Associates (RPA) is a vertically integrated real estate private equity firm that combines experienced and proven investment capability with a best-in-class team of real estate operations professionals. Founded in 2009 with the objective to provide superior resident service, it has become a leader in the multi-family housing investment and management industry. The company currently owns and operates 24 properties totaling over 6,300 units in Florida.
Headquartered in Tampa, FL, and Boston, MA, Robbins Property Associates maintains the same determination towards excellence in employee satisfaction. They have been named a Top 100 Workplaces employer by the Tampa Bay Times seven times since 2013. The combined years of property management experience accumulated by their onsite and corporate staff provides RPA with its competitive edge, and it is why RPA is a leader in the property management industry. For more information about Robbins Property Associates, visit http://www.RobbinsPropertyLLC.com.
Robbins Property Associates contact:
Greer Hill, Director of Marketing
Robbins Property Associates
Phone: 941-224-3768
Email: [email protected]
Source: Robbins Property Associates
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Tags: Multi-Family Aquisitions, Multi-Family Investments, Property Management
