The company partnered with Paragon Group and First Florida for one of the biggest single-family rental developments in the metro.
To finance the purchase, the company assumed a Freddie Mac loan already in place.
Crescent Club is a 215-unit age-restricted property in Orlando, Fla.
The Michaels Organization will develop a 1,300-unit community on land provided by Disney.
This acquisition marks the company’s eighth investment in the sector since the beginning of the year.
NewPoint Real Estate Capital originated the loans, which will be used to refinance North Carolina and Florida properties.