Robbins Property Associates (“RPA”), a Tampa-based vertically integrated multifamily owner and operator, has acquired the Wisper Palms Apartment Homes. The property, which was re-branded Pointe Parc at Avalon, is located in the booming Central Florida market in East Orlando.
Pointe Parc at Avalon is centrally located just minutes from highly desirable retail and employment, including the open-air Waterford Lake Town Center, Lockheed Martin, Siemens, the Central Florida Research Park, and Florida Hospital. Pointe Parc residents also enjoy an unparalleled location for education with easy access to A-rated local school programs, Valencia College East Campus, and the second-largest university in the country, The University of Central Florida.
“Pointe Parc at Avalon marks our sixth acquisition of the year, and we continue to target unique assets in high-demand, desirable locations,” said Neal Herman, Managing Director of Investments at RPA. “East Orlando’s combination of education, government, space, and technology sectors has led to accelerated job and area household income growth over the past decade. We expect these trends to continue, and the investment is well-positioned to benefit as a result.”
The exceptional 308-unit property features a well-balanced mix of one (22%), two (50%), three (23%), and four-bedroom (6%) floorplans. Completed in 2004, this community features a wide array of amenities, including 172 attached garages, 136 detached garages, walking trails, storage units, a children’s playground, and a business center. Robbins Property Associate’s comprehensive value-add program will include upgrading unit interiors to include sleek quartz countertops in kitchens and baths, modern tile backsplashes, stainless-steel appliance packages, and wood plank flooring throughout.
Community amenity upgrades will highlight a complete renovation and expansion of the clubhouse and leasing center, an expanded 24-hour, state-of-the-art fitness center, and a fenced-in community pet park. Additionally, RPA will modernize the resort-style freeform pool by adding new lounge furniture and updating the outdoor summer kitchen and dining pavilion.
“We observe that demand for low-density, townhome-style product outpaces traditional three- and four-story construction, especially in suburban submarkets,” said Kristi King, COO at RPA. “RPA is excited to transform Pointe Parc at Avalon through a comprehensive amenity upgrade and interior renovation plan.”
