Blaze Capital Grows Orlando Footprint
The community previously changed hands for $39 million.
Blaze Capital Partners has acquired Integra Lakes, a 203-unit multifamily community in Casselberry, Fla., a suburb of Orlando. The asset was previously owned by Harbor Group International which acquired it in 2018 for $39 million; the deal involved a $27.3 million CMBS loan from Citibank, according to Yardi Matrix data.
Completed in 2017, the property comprises four buildings which incorporate studio, one-, two- and three-bedroom floorplans ranging from 532 to 1,298 square feet. All apartments feature in-unit washers and dryers, stainless steel appliances and granite countertops. Community amenities include a swimming pool, grilling stations, private garages, private storage, a fitness center, a game room and a multi-media internet café. The new ownership plans to implement upgrades to interiors and common areas.
Located at 3160 Integra Lakes Lane, the property is off Highway 17 and roughly 14 miles north of downtown Orlando. It is also some 19 miles from the Orlando International Airport. Various retail and dining options are within walking distance.
This transaction represents Blaze’s second acquisition in the Orlando area this year, following the purchase of a 163-unit active adult community in Davenport, Fla., in March. The firm currently owns more than 2,800 units throughout the Sun Belt, Yardi Matrix information shows.