The CBRE Strategic Partners U.S. Value 9 fund has acquired The Village at Lake Lily, a 455-unit residential property located at 921 S. Orlando Ave. in Maitland, Fla.
The Village at Lake Lily is a class A, mid-rise apartment property with large floor plans and design attributes, such as built-in desks/shelving and crown molding, which differentiate it from other properties. Residents have access to a generous amenity suite, including a fitness center, two resort-style pools with hot tubs, grilling stations, a clubroom, a package locker and a dog run. The property also has several retail tenants located on the ground-floor spaces, including two local popular restaurants.
“Investment in residential assets remains a key area of focus for us, and the Orlando market is considered to be a top 10 market nationally for residential growth,” said Daniel Casey, director, residential transactions, at CBRE Investment Management. “We believe that this area’s high population growth combined with the strong demand for well-amenitized living spaces from local professionals will position the Village at Lake Lily to provide long-term value for both residents and our investors.”
The Village at Lake Lily is located seven miles north of Downtown Orlando. The property benefits from its proximity to the I-4 expressway, a major thoroughfare providing convenient connectivity to key employment/business nodes and retail.
In March 2021, CBRE Global Investors closed CBRE Strategic Partners U.S. Value 9, its largest value-added fund to date, and its co-investment vehicles with $2.3 billion in equity commitments.
