Walton Street Capital Grows Florida Footprint
The firm acquired a Davenport asset with the help of a $48 million loan from First Citizens Bank.
Image by Krystal Black via Unsplash
Walton Street Capital has purchased Dunson Grove, a 319-unit luxury community in Davenport, Fla., public records show, with the help of a $48 million loan from First Citizens Bank. The seller was a private individual who developed the $70 million asset in conjunction with FK Architecture. In 2021, the property became subject to a $37.1 million construction loan from Bank of America, according to Yardi Matrix data.
The acquisition brought Walton Street’s Florida portfolio to 1,195 units, the same data provider shows. The firm’s recent investments in The Sunshine State also include a 326-unit garden-style community in Kissimmee and a 226-unit multifamily asset in St. Petersburg.
Recently completed, Dunson Grove comprises 18 three-story buildings which incorporate one-, two- and three-bedroom floorplans ranging from 624 to 1,231 square feet. Apartments feature walk-in closets, in-unit washers and dryers and LED lighting, along with private garages and porches for select units. Common-area amenities include a swimming pool, clubhouse, fitness center and playground. The property also features environmentally conscious components such as private gardening plots and solar-powered EV charging stations.
Located at 1105 Park Lane, the 20-acre property is near Interstate 4, roughly 30 miles from downtown Orlando and 9 miles from downtown Davenport. There are numerous retail and dining options nearby, alongside Highway 27, as well as golf clubs and hiking trails.
