Michaelson Real Estate Group, LLC and Private Equity Partner acquire Crystal Lake Apartments

Michaelson Real Estate Group is pleased to announce the expansion of its existing portfolio to include Crystal Lake Apartments, a 224-unit lakefront apartment community nestled in a tranquil setting in Pensacola.

Crystal Lake, located at 7680 Highway 98 West, is just minutes from Pensacola Beach, Gulf Shores, restaurants, shopping, banking and schools. It is comprised of 25 two story buildings on 24 acres of land. The property features large two-bedroom floor plans averaging 981 square feet. Crystal Lake features a full amenity package including a sparkling swimming pool, gas fire pit with lounge seating, outdoor resident grilling entertainment pavilion, lush landscaping, expansive state of the art fitness center, and clubhouse with business center, volley ball court, Wi-Fi, playground, dog park, and laundry facilities. The community offers convenient access to Naval Air Station, Gulf Coast Health Care, and University of West Florida. Crystal Lake has convenient access to Interstate 110.

Built in 1997, $2 million dollar in capital improvements are scheduled to begin in 2019. These improvements include: flooring and appliance replacement and other interior unit renovations; common area new furniture; new roofs; fitness center enhancements; landscaping; and exterior painting.

Michaelson remains focused on the Florida market and believes investments like Crystal Lake will offer solid returns on their investments

About Michaelson
Michaelson Real Estate Group is an entrepreneurial driven, full service apartment management and investment firm that provides a diversified range of real estate services including: property management, leasing and marketing, and investment. Michaelson specializes in enhancing multifamily values by utilizing its core marketing, management and repositioning capabilities. The principal is a seasoned real estate executive and entrepreneur that has over 30 years of experience in the multifamily market including the development, construction, property management and advisory of over 100,000 multifamily units

For further information please contact:

Michaelson Real Estate Group

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