ORLANDO, FL, July 25, 2012 – Advenir, a premier provider of multi-family real estate investment and management services, has acquired Advenir at Polos East (top left photo) (formerly Polos East at Waterford), a 308 unit community located in the upscale Waterford Lakes submarket of Orlando, Florida for $27.1 million.
In the past 12 months, Advenir has acquired more than 2,300 multi-family units.
“We were attracted to Advenir at Polos East because of the significant value to replacement cost, strong market fundamentals and clear value-add potential,” said Todd Linden (lower right photo), Chief Acquisition Officer of Advenir.
“Advenir is actively looking to acquire stabilized income producing multi-family assets in markets that have exhibited, and are projecting, healthy economies, positive employment growth, and in-migration.”
Advenir at Polos East is 94 percent leased. The community features 140 one bedroom/one bathroom units, 136 two bedroom/two bathroom units and 32 three bedroom/two bathroom units. Currently, rents average $750-$1,100 per month.
Advenir represented itself in the transaction. Kevin Judd, Patrick Dufour and Matt Wilcox of ARA represented the seller, a National-based REIT.
For a complete copy of the company’s news release, please contact:
David Ebeling
Ebeling Communications
949.861.8351
949.278.7851 (Cell)
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