Waterton Associates Picks up Baldwin Park-Area Community

The 212-unit Promenade Crossing garden-style apartment community changed hands recently, Waterton Associates, LLC announced. The acquisition marks the sixth addition to the Chicago-based real estate investor and operator’s Florida portfolio and it is their second property acquired this year.

Waterton Associates L.L.C. is the new owner of Promenade Crossing, a 212-unit garden-style apartment community in the Baldwin Park area. The acquisition is the second in Florida this year and sixth overall for the Chicago-based real estate investor and operator.

Situated on Maguire Boulevard about three miles northeast of downtown Orlando, Promenade Crossing is a mix of one-, two- and three-bedroom apartments. Seven floor plans ranging from 695 to 1,326 square feet are available, and each of the two- and three-bedroom units includes two bathrooms. All units are equipped with washers and dryers, ceiling fans, walk-in closets and private balconies. Select apartments also feature solariums and French doors.Common amenities include a resort-style pool with a sun deck, a 24-hour gym, a clubhouse, dog park, car wash and picnic areas.

According to a statement, Waterton is reviewing renovation plans for individual residences, common areas and amenity spaces. The neighborhood is close to highly rated schools like Audubon Park Elementary School, Glenridge Middle School and Winter Park High School, which the Washington Post has named one of the nation’s “Most Challenging High Schools” for eight consecutive years.

Founded in 1995, Waterton manages $3.8 billion in assets on behalf of institutional investors, family offices and financial institutions. The company’s portfolio comprises 12 hotels and 18,000 multifamily units, more than 2,500 of them in Florida.

Photo credits: Promenade Crossing