Middleburg Communities, in a joint venture with SFO Capital Partners, has acquired The Baldwin, a 270-unit Class A community located in Orlando, Fla. According to Yardi Matrix, the buyers picked up the asset for $87.3 million, from Catalyst Development Partners.
Completed last month, the controlled-access community spans roughly 10 acres across nine three-story buildings. The Baldwin encompasses one-, two- and three-bedroom floorplans featuring washers, dryers, lighting controls and digital locks in all units. Common-area amenities include a pool, business center, fitness center and coworking station. An Amazon hub package center, EV charging stations and rental office space are also available at the property.
Located at 800 Lombard St., The Baldwin is adjacent to the Baldwin Park neighborhood. Several retail centers, dining options and entertainment venues are located in the vicinity of the property. The community is also positioned between Interstate 4 and state routes 408 and 417, offering access to several employment and education hubs.
Orlando rental market on the rise
Shortly after making its entry into the Orlando multifamily market with the purchase of Indigo Champions Ridge, Middleburg Communities announced the development of Mosby Citrus Ridge, a 300-unit, Class A community in Davenport, Fla. The project is scheduled for completion by May 2024.
Transaction activity remained elevated in Orlando in the first five months of the year, with the closing of $2.5 billion in multifamily assets. This month, OpenStreet Capital and JD Cap invested in the market with the purchase of Legacy Universal, a 350-unit community in Orlando.