Hamilton Point Investments Acquires 2 Florida Apartment Communities
The trade capitalizes on the area's strong population growth and housing demand.
Hamilton Point Investments has Retreat at 42nd and Legends at Pine Forest two multifamily communities located in Ocala and Pensacola, Fla. SCorUSA was the seller and previous owner of both properties.
The participants did not disclose the sales price for either asset, though the Ocala community reportedly traded for $50 million, according to an article from Ocala-News.
Berkadia Senior Managing Director Cole Whitaker, Managing Director David Etchison, and Director Mary Beale of the company’s Central & North Florida branch represented the seller in the deal for Retreat at 42nd. Etchison also represented the seller in the Pensacola transaction.
Property profiles
Completed in 2023 by SCorUSA, Retreat at 42nd totals 268 units sectioned into one-, two- and three-bedroom floor plans. All units include washer/dryer connections, microwaves, high-speed internet, as well as walk-in closets and showers. Community amenities include a pool, fitness center and business center. The property also offers event space and a TV lounge, bark park and an outdoor grill area/ramada.
Retreat at 42nd is currently 75 percent occupied, according to Yardi Matrix data. The units average 1,727 square feet and rent for an average $1,804 a month.
SCorUSA also built Legends at Pine Forest in 2023. The the 170-unit property, situated on a nine-acre site, consists of 10 three-story apartment buildings and offers one-, two- and three-bedroom units. Apartment interiors sport granite countertops and stainless steel appliances, as well as walk-in closets and showers alongside washer/dryer connections. Common-area amenities include a clubhouse with 24-hour fitness facility, business center and TV lounge, a zero-entry saltwater pool, bark park and outdoor ramada.
Old Lyme, Conn.-based Hamilton Point owns and manages apartments in Florida, Texas and other states, mostly in the South. Phenix City, Ala.-based SCorUSA specializes in apartment development in Florida and other Southeastern states.
Northern Florida Cities Growing
As the rest of Florida grows increasingly expensive, renters are looking to the relatively inexpensive northern part of the state, which includes such markets as Pensacola and Ocala. Both metro areas have thus been growing in population, commensurate with demand for multifamily properties; still, homeownership is relatively strong in both places.
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The Ocala MSA has been growing for years. The Census Bureau puts the 2024 population at nearly 429,000, up from about 377,400 only five years earlier, and 331,300 in 2010. According to a March 2025 report from Ocala Metro’s Chamber & Economic Partnership, multifamily occupancy in metro Ocala was 95.2 percent in 2024, up 2.53 percentage points for the year, with rents up nearly 4 percent, according to Ocala Metro Chamber & Economic Partnership.
The Pensacola MSA had a population of nearly 539,000 as of 2024, according to Census Bureau estimates. In 2020, the population totaled about 511,000, and in 2010, it was 451,000.
