Robbins Property Associates Announces Luxurious Class A Multifamily Acquisition in Sanford, Florida
Robbins Property Associates Expands in Florida Market With Acquisition of Lake Monroe Apartments
SANFORD, Fla., March 24, 2021 (Newswire.com) - Robbins Property Associates ("RPA"), a vertically integrated multifamily owner and operator, has partnered with a publicly-traded insurance company to acquire Lake Monroe Apartments. The expansive 280-unit NGBS Green Certified complex was completed in 2020. The property, which was re-branded Vue on Lake Monroe, is located in the quickly expanding Sanford/Lake Mary submarket in Seminole County.
The property is centrally located with ease of access to Interstate 4 and the SunRail, which provides access to over 20.9 million square feet of corporate office space. The area provides a high proportion of healthcare, finance, and education jobs, including AAA, Deloitte, and multiple hospitals.
"Sanford/Lake Mary has high-growth potential and was relatively resilient during 2020. We expect these positive trends to continue due to the robust local job market and continued population growth," said Neal Herman, Managing Director of Investments at RPA. "Vue on Lake Monroe provides the right balance of high-end interior finishes and amenities while remaining affordable in terms of competing with other brand-new product."
Vue on Lake Monroe is a newly constructed luxury apartment community situated directly across from the Sanford Riverwalk. The community features picturesque views of Lake Monroe, a screened-in resort-style saltwater pool, a state-of-the-art strength and fitness center, and electric vehicle charging. Each unit boasts designer cabinetry imported from Italy, natural polished stone countertops, custom hardware, premium stainless-steel appliances, and hardwood-style flooring. With the historic downtown Sanford with its charming cafés, upscale restaurants, and trendy bars just minutes away, Vue on Lake Monroe sets the stage for a flawless living experience.
RPA will install the finishing touches to the interiors with modern kitchen tile backsplashes. Community amenity upgrades will highlight enhancements to the fitness center and pool, and the addition of a fenced bark park.
"Vue on Lake Monroe is well-suited to meet the growing demand from renters who prefer an urban lifestyle plus the comforts of suburban, waterfront living," said Kristi King, Chief Operating Officer & Principal of RPA. "We are very excited to add this community to our Orlando portfolio."
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ABOUT ROBBINS PROPERTY ASSOCIATES |
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Robbins Property Associates (RPA) is a vertically integrated real estate private equity firm that combines experienced and proven investment capability with a best-in-class team of real estate operations professionals. Founded in 2009 with the objective to provide superior resident service, it has become a leader in the multi-family housing investment and management industry. The company currently owns and operates 22 properties totaling over 5,700 units in Florida and Maryland. Headquartered in Tampa, FL, and Boston, MA, Robbins Property Associates maintains the same determination towards excellence in employee satisfaction. They have been named a Top 100 Workplaces employer by the Tampa Bay Times seven times since 2013. The combined years of property management experience accumulated by their onsite and corporate staff provides RPA with its competitive edge, and it is why RPA is a leader in the property management industry. For more information about Robbins Property Associates, visit http://www.RobbinsPropertyLLC.com. Robbins Property Associates contact: Greer Hill, Director of Marketing |
Source: Robbins Property Associates