TODAY’S DEALS: GoldOller Acquires 1,998-Unit Community in Indiana
One of the largest rental communities in the United States trades hands for $85 million; and a joint venture between Balfour Beatty and ApexOne buys a 152-unit boutique community in Lady Lake, Fla.
Ft. Wayne, Ind.—One of the largest rental communities in the United States has traded hands for $85.5 million with GoldOller Real Estate Investment’s acquisition of the Canterbury Green Apartments and Townhomes in Ft. Wayne, Ind., from AIMCO. The resort-style communities features 1,998 units spread across 195 acres along St. Joseph River adjacent to Indiana University—Purdue University Fort Wayne.
“Canterbury Green represents a continuation of our business strategy,” says Jake Hollinger, COO of GoldOller. “Buying large scale investments in the Midwest and Southeast that we can invest substantially in has provided value to our residents and high yielding returns for our investors. Our residents at Canterbury Green can expect complete clubhouse renovations, in-unit upgrades and amenity enhancements throughout the community. We will also introduce our GO lifestyle resident services which include complimentary fitness classes, team sports, cooking and nutrition classes, and more opportunities for our residents to fully enjoy their PGA golf course, clubhouse and pub.”
Amenities at the community include an 18-hole golf course with a pub, a three story clubhouse, four outdoor pools, three tennis courts, two racquetball courts, volleyball and a fitness center with saunas and tanning beds.
GoldOller is a Philadelphia, Pa.-based innovative operator of apartment communities in 13 states, primarily in the Midwest and Southeast, with a growing portfolio of about 30,000 managed units and 10,000 owned and operated units.
Balfour Beatty, ApexOne buy apartments in Lady Lake, Fla.
Lady Lake, Fla.—A joint venture between Balfour Beatty Communities and ApexOne Investment Partners have acquired Carmendy Square Townhomes, a 152-unit boutique community in Lady Lake, Fla. Philadelphia-headquartered Balfour Beatty will handle all management services through its multifamily division.
“Carmendy Square is a well-leased asset in a strategic location that allows us to further develop our presence in the Florida multifamily market,” says Chris Williams, president of Balfour Beatty Communities. “We are very pleased to own and operate this property and look forward to bringing continued improvements that will further enhance the resident experience in this popular community.”
Carmendy Square Townhomes consists of two- and three-bedroom units with an average unit size of 1,200 square feet. Community amenities include a resort-style pool, 24-hour fitness center, Internet café, business center, clubhouse, dog park, playground and picnic areas. In addition, the property is situated in close proximity to The Villages, a master-planned retirement community with a population of more than 107,000 residents.
