MAA Acquires 394-Unit Community
- Aug 21, 2012
Orlando, Fla.—MAA, a self-managed apartment-only real estate investment trust, announced that is has acquired Retreat at Lake Nona, a community in Orlando, Fla.
The community includes 394 units, with an average of 1,069 square feet per apartment. Units feature 9-foot ceilings, garden tubs and walk-in closets.
Retreat at Lake Nona features many amenities for its residents, including a pool, lighted tennis courts, a basketball court, outdoor grills, a fitness center and a business center.
What’s most advantageous about the community is its convenient location. Retreat at Lake Nona is located two miles from the new Medical City development, which is a new 600-acre science and technology park. Medical city is home to the Sanford-Burnham Medical Research Institute, the University of Central Florida College of Medicine and the MD Anderson Cancer Research Institute. Additionally, The University of Florida Academic & Research Center, Nemour Children’s Hospital and the Orlando Veterans Affairs Medical Center will also be opening in Medical City.
Also located near Retreat at Lake Nona are major commuter routes providing transportation to nearby employment centers and retail facilities, as well as the Central Florida Research Park, downtown Orlando, Orange County Convention Center and the Maitland Center Office Park.
“We are pleased to capture this opportunity to expand our operations and efficiencies in central Florida and expect Retreat at Lake Nona will generate an attractive investment return for shareholders,” Al Campbell, EVP and CFO, MAA, says.