Disrupt Equity, a Houston real estate syndication company, has closed on the acquisition of the 128-unit Hilltop Apartments, located in Daytona, Fla.
Disrupt Equity partnered with Open Door Capital to acquire Hilltop Apartments for an undisclosed sales price.
Hilltop Apartments was one of the three multifamily properties included in Disrupt Equity's recently launched Sunbelt Diversified Portfolio 506(c) offering to its investors. The acquisition marks Disrupt Equity's expansion into the Central Florida region.
Hilltop is a garden-style community built in 1973 and comprises 128 one- and two-bedroom units that span eight buildings. The asset is conveniently located minutes from the Atlantic beaches, the Daytona Beach International Airport, the Volusia Mall, the Daytona Speedway, the One Daytona shopping complex, and major employment centers.
The Daytona market is growing rapidly — Hilltop has seen EGI grow 70 percent during the past 12 months, with the im