Trion Properties has acquired Altamonte at Spring Valley, a 250-unit luxury multifamily community in Altamonte Springs, Fla., a submarket of North Orlando for $49.1 million.
“We purchased the property well below the average price in the submarket, making us ideally positioned to generate a substantial profit by enacting our proven value-add program,” said Max Sharkansky, managing partner at Trion Properties.
The property is on the south side of the Altamonte Springs submarket, a 15-minute drive from downtown Orlando and within a 20-minute drive of more than 36 million square feet of office space.
“We are seeing rapid job growth in Orlando, which has been double the national average over the past 5 years and is projected to continue at approximately 2.5 times the national average over the next five years,” said Mitch Paskover, a managing partner at Trion Properties. “Driving this employment is a growing list of major corporations and technology tenants
