Cortland Partners Enters Orlando Market, Hires Local Expert
- Apr 04, 2014
Cortland Partners recently acquired its first asset in the metro Orlando market. The firm purchased Harbor at Lake Howell, a 408-unit, garden-style community in Casselberry for $40 million. Aside from the acquisition, the company also announced that it has added John Builder to its team of experts.
Cortland Partners is an Atlanta-based full-service multifamily real estate acquisition, development, and operating platform mainly active across the Southeast and Texas. A growing apartment owner and manager, the firm is currently focused on expanding its presence in the Sunshine State. The company’s Florida portfolio consists of seven communities, totaling about 3,000 units. Cortland Partners acquired its first Florida asset in 2012 and now owns communities in Gainesville, Fla., Jacksonville, Fla., Orlando, Fla. and Tampa, Fla.
Situated on 450-acres next to a freshwater lake, The Harbor at Lake Howell offers three floor plans ranging from 826 to 1330 square feet with one, two or three bedrooms and up to two bathrooms. The apartments come with fully equipped kitchens with optional stainless steel appliances, garbage disposal, washer / dryer connections, intrusion alarm, screened patios or balconies and outside storage space. The property includes a secluded sandy beach, winding wooded nature trail and boat access to Lake Howell. Further community amenities include a fitness center with spa / hot tub, an adventure playground, picnic areas, a summer kitchen equipped with gas grill, a car care center and covered parking.
A native of Orlando, Builder will serve as a Director of Investments for Florida. With more than 15 years of experience in investment-grade real estate acquisitions, portfolio management, joint ventures, and development, his main responsibility at Cortland Partners is to manage the firm’s development and acquisition activities across the state.
Photo credits: Harbor at Lake Howell