TruAmerica Multifamily, a national, institutionally-focused multifamily investment firm, acquired Maris Pointe, a 280-unit apartment community in Orlando, Florida.
TruAmerica will leverage its expertise and scale in the Orlando market to execute its strategy of building better communities. The firm has been investing in the Orlando market since 2017 with a track record across 19 properties and over 6,650 apartments.
“Maris Pointe is an institutionally maintained asset with remarkable opportunity to renovate apartment interiors and amenities,” said Matt Ferrari, Head of Acquisitions and co-CIO, of Los Angeles-based TruAmerica. “The infill location also delivers exceptional connectivity to key areas of Orlando, one of the top growth markets in the United States, and where TruAmerica already owns more than 3,850 apartments across 11 properties.”
TruAmerica plans to improve apartment interiors with modern upgrades. Plans also include fitness center expansion, landscaping improvements and upgrades to the pool and amenity spaces.
Maris Pointe features a large clubhouse, resort-style pool, pavilion, children’s play area pet park, a resident lounge and kitchen, fitness center, abundant green space and waterfront walking trails surrounding a private lake. Units at the community are configured in one-, two- and three-bedroom floorplans that average 944 square feet.
Located at 5800 Dolphin Dr., the 30-building community is located in the heart of Orlando along the SR 436 transportation corridor that delivers excellent connectivity to top employers, downtown Orlando, shopping and dining including the Lee Vista Promenade, Lee Vista mixed-use park, Lake Nona’s Medical City, as well as Orlando International Airport.
Shelton Granade, Luke Wickham, Justin Basquill, of Marcus & Millichap’s Institutional Property Advisors represented the seller.
