TriBridge Buys Luxury Community Near Orlando
The previous owners completed the 15-building property last year.
TriBridge Residential has acquired The Mark at Wildwood, a 294-unit luxury multifamily property in Oxford, Fla., an Orlando submarket. Varden Capital Properties and Tellus Partners sold the asset in a deal brokered by JLL Capital Markets.
The developer funded the construction with a $30.9 million loan originated by Ameris Bank in May 2021, according to Yardi Matrix data. A year later, the venture took out another $2 million note from the same lender.
The Class A property came online last year and encompasses 15 three-story buildings spread across 22 acres. The unit mix consists of one- to three-bedroom flat and carriage home-style apartments, ranging between 754 and 1,311 square feet. Units also have private balconies or patios.
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Common-area amenities feature a saltwater swimming pool, dog park, fitness center, alfresco kitchen and fireplace. Additionally, the property has a car wash station, a cyber lounge, a clubhouse and a business center, as well as some 440 parking spaces.
Located at 3795 Bismarck Court, The Mark at Wildwood is in downtown Oxford and close to multiple dining opportunities. Orlando is less than 58 miles away, while the Orlando International Airport is 65 miles southeast.
JLL Capital Market’s Investment and Sales Advisory team representing the seller comprised Managing Directors Cliff Taylor and Joe Ayers, Directors Ryan Hixon and Tucker Brooks, alongside Associate Mike Scott.
Orlando’s multifamily transactions keep up pace
Orlando’s multifamily investment volume year-to-date as of October clocked in at $1.4 billion, with 30 properties—or 7,865 units—trading, according to Yardi Matrix information. Compared to the same period in 2023 when 30 assets—some 8,300 apartments—changed hands for roughly the same amount, the activity remained steady.
Earlier this month, Eagle Property Capital purchased The Retreat at Windermere, a 332-unit community in Orlando. The buyer financed the acquisition with a $65.6 million Fannie Mae note that matures in 2031.
