Lantower Residential has acquired Orlando, Florida-based Lantower Grande Pines, an apartment community. The seller was Picerne Real Estate Group. No financial terms were disclosed.
Dallas-based Lantower Residential announces the acquisition of Lantower Grande Pines in the heart of the I-4 tourism corridor in southwest Orlando. Built in 2017, the 282-unit community features contemporary one-, two- and three- bedroom floorplans. Interior amenities include wine racks,Energy Star stainless-steel appliances, granite countertops with kitchen islands, and “smart home” systems. Residents enjoy luxury community amenities including a 10,000 SF clubhouse with a state-of-the-art fitness center, separate yoga room, clubroom with entertaining space and billiards, resort-style pool with cabanas, lake with LED-lit fountains, bark park, and Fitness on Demand.
The property is located at 11128 Grande Pines Circle between International Drive and Interstate 4, providing quick access to the major employment centers of Orlando. The area benefits from Orlando’s $60 billion tourism industry as Disney World, Universal Studios, and Seaworld are within minutes of the property. Major local employers, Lockheed Martin and Darden Restaurant Headquarters, are also within a short drive to the community.
“The acquisition of Lantower Grande Pines enables Lantower Residential to expand its current Orlando position with a newly constructed institutional-quality asset in one of the strongest submarkets in Orlando.
We are excited to continue growing our Florida portfolio and are quite pleased that our reputation in the market as a buyer-of-choice for institutional sellers continues to grow.” Lantower Residential COO Philippe Lapointe said in prepared remarks.
Upon acquisition of Lantower Grande Pines, Lantower Residential’s portfolio will encompass 14 multifamily properties consisting of 4,882 residential units.
Lantower Residential is a vertically integrated real estate company and subsidiary of H&R REIT specializing in the acquisition, ownership and management of multifamily communities in the U.S.
We aim to create real value for our shareholders through a disciplined acquisition and management strategy by seeking financially sound multifamily investments in growth markets. We focus on those submarkets where we have vast institutional knowledge and apply our proven knowledge to the acquisition, financing, renovation, management, and positioning of each deal.