Nuveen Buys Orlando Asset for $45M
- Jan 18, 2021
Nuveen Real Estate has spent $44.7 million to acquire Lake Vue in Orlando, Fla., according to Yardi Matrix data. The Class A community changed hands for the first since NRP Group developed the 196-unit property in 2016. The buyer already owns almost 2,000 units in the market.
Located at 7119 Sand Lake Reserve Drive, adjacent to Interstate 4, the community is within 5 miles from both Universal Studios and Walt Disney World and close to several retail and dining options. The asset is 12 miles from the metro’s downtown and almost 15 from Orlando International Airport. The three four-story buildings consist of one-, two- and three-bedroom units. Common-area amenities include a saltwater pool, clubhouse and round fitness center.
In early 2019, Nuveen launched its $550 million U.S. Cities Multifamily Fund, which targeted Class A and B multifamily properties in top-tier cities across the U.S. And just last November, the company purchased the 321-unit Octave Apartments, a luxury community in Nashville, Tenn.