Jun

25
2019
Winter Springs

Michaelson Real Estate Group, LLC Grows Florida Portfolio with Acquisition of 208-Unit Luxury Community

Michaelson Real Estate Group, LLC and a private equity investor have acquired 1020 @ Winter Springs Apartments, a 208-unit multifamily housing community nestled within the prestigious Orlando suburb of Winter Springs.  The asset was 96% occupied at the time of sale.

Built in 1991, 1020 @ Winter Springs features large one, two, and three-bedroom units, lake views and a park-like setting.  On-site amenities include a social lounge, clubhouse, pool with waterfalls, sundeck, grill areas/outdoor kitchen, business center, covered parking, basketball court, playground, and state of the art fitness center.  Located on Chatham Pines Circle, just four miles west of State Road 417, the community offers convenient access to all of the city’s major employment centers including the Lake Mary office submarket, University of Central Florida, Lockheed Martin, downtown Orlando and Lake Nora.

Known for its affluence, Winter Springs maintains household incomes that are more than 26% higher than the overall MSA and a phenomenal public school system with “A” rated schools.  MONEY Magazine named Winter Springs as one of the best places to live in America.

The property recently underwent $6 million in capital improvements.  These improvements include: flooring and appliance replacement and other interior unit renovations; common area new furniture; new roofs; fitness center enhancements; landscaping; and car wash stations/pergola.

The Sunshine State is the largest investment market for Michaelson, who has ownership and management interests in more than 12,000 units in Florida.  Founded in 2009, Michaelson maintains a $25 billion portfolio of approximately 17,000 units across North Carolina, Tennessee, Texas, and Florida.
For further information please contact:
Michaelson Real Estate Group

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

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