Michaelson Real Estate Group, LLC and a private equity investor acquire Griffin Park Apartments in Affluent Lakeland, Florida

Michaelson Real Estate Group, LLC and a private equity investor
acquire Griffin Park Apartments in Affluent Lakeland, Florida

Lakeland, October 20, 2016

Michaelson Real Estate Group, LLC and a private equity investor have acquired Griffin
Park Apartments, a 173-unit multihousing community in Lakeland, Florida. The asset
enjoyed 97% occupancy at the time of sale.

Lakeland is known for its affluence and is the largest city on Interstate 4 between Orlando
and Tampa. Griffin Park is located at 1013 Griffin Road, Lakeland, Florida, just minutes
from major employers such as Florida Polytechnic University, Lakeland Regional Medical
Center (4,500 Employees), Legoland (1,200 Employees) and Publix Supermarket
Headquarters (3,000 Employees). Griffin Park also offers superb accessibility to the
area’s most traveled highways, Tampa, Downtown Orlando and the Orlando International
Airport.

Built in 1975, Griffin Park features a mix of one and two-bedroom apartments in four
different floor plans with upgraded vinyl wood flooring, resurfaced countertops, new
white appliances, upgraded lighting fixtures and crown molding. The property also boasts
a superior amenity package including four cornhole courts, community courtyard,
designer clubhouse with WIFI, state-of-the art fitness center, sparkling pool, playground
and a tropical landscape design.

There is a tremendous demand for high-quality rental housing in strategic areas like
Lakeland-Winter Park Metropolitan area. The property went through well-received
interior renovations in 2015, resulting in significant post-renovation rental premiums.

Michaelson Real Estate Group, LLC will manage the property. Michaelson specializes in
enhancing multifamily values through marketing, management and repositioning.
Michaelson has managed more than 30,000 apartment and condominium units
throughout the Southeast.

For further information please contact:

Michaelson Real Estate Group

Michael Moses |
mmoses@michaelsongroup.com
904-880-0000