MAA Completes Acquisition of Upscale 394-Unit Multifamily Community
- Sep 03, 2012
By Georgiana Mihaila, Associate Editor
Apartment-only real estate investment trust MAA has recently expanded its Central Florida portfolio with the addition of the 394-unit multifamily apartment community Retreat at Lake Nona.
Commenting on the announcement, Al Campbell, EVP and CFO of MAA said, “We are pleased to capture this opportunity to expand our operations and efficiencies in central Florida and expect Retreat at Lake Nona will generate an attractive investment return for shareholders.” No financial details of the purchase have been disclosed.
The Retreat at Lake Nona is an upscale 394-unit multifamily apartment community that provides residents with a wide array of amenities including a resort-style pool, lighted tennis courts, a basketball court, outdoor grills, and fitness and business centers. The apartment homes average 1,069 square feet and offer nine foot ceilings, garden tubs and large walk-in closets.
The community is located only two miles from the emerging Medical City development—a new 600-acre science and technology park that serves as home to Sanford-Burnham Medical Research Institute, the University of Central Florida’s College of Medicine, and the MD Anderson Cancer Research Institute. Medical City will also soon see the opening of The University of Florida Academic & Research Center, Nemours Children’s Hospital and the Orlando Veterans Affairs Medical Center.
In addition to close proximity to Medical City, Retreat at Lake Nona provides residents with easy access to two major commuter routes that connect them to several other regional employment and retail centers including the Central Florida Research Park, downtown Orlando, Orange County Convention Center and the Maitland Center Office Park.
Image courtesy of http://www.retreatatlakenona.com
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