Waterton Associates Purchases Promenade Crossing in Orlando, FL

Max Peek

 CHICAGO, IL, March 24, 2015 – Waterton Associates LLC, a U.S. real estate investor and operator, today announced the acquisition of Promenade Crossing, a 212-unit garden-style apartment community located approximately three miles northeast of downtown Orlando, Fla.

 The gated community, a mix of one-, two- and three-bedroom apartments, borders Baldwin Park, an upscale master-planned community that is home to more than 8,000 residents and 125 businesses, and is minutes from some of the area’s top employment centers, including the Orlando Regional Medical Center and Florida Hospital Orlando.

 It is the second property acquired by Waterton in 2015 and adds to the company’s growing portfolio in Florida, where Waterton owns five other rental communities comprising more than 2,300 units.

 “The Orlando apartment market has continued to benefit from high occupancies and steady rent growth, which makes it extremely attractive from an investment standpoint,” said Max Peek, senior vice president of acquisitions at Waterton Associates.

“While some of this activity has been fueled by former homeowners who became renters during the downturn, we’ve seen a societal shift in how everyone from millennials to baby boomers view housing, with many opting for the flexible, maintenance-free rental lifestyle afforded by communities like Promenade Crossing.”

For leasing information, call (321) 282-4860 or visit www.promenadecrossing.com

. For a complete copy of the company’s news release, please contact:

Abe Tekippe, atekippe@taylorjohnson.com  (312) 267-4528

Kim Manning, kmanning@taylorjohnson.com (312) 267-4527