A CBRE Global Investors fund has paid an undisclosed sum to buy two properties in Orlando.
The real estate management firm said the unnamed fund has bought the 346-unit Venetian Isle property located at 6506 San Francesco Way in Windermere and the 258 one-, two- and three-bedroom Zen property located at 9835 Namaste Loop.
CBRE said the acquisition is aligned with the fund’s strategy of investing in target multifamily markets across the US.
Steve Gullo, senior managing director of multifamily acquisitions for CBRE Global Investors, said: “Orlando continues to have one of the fastest-growing economies with population and employment growth outpacing the nation. Accordingly, it is forecasted to be one of the highest-ranked markets for future rent growth.
“We believe both Venetian Isle and Zen are ideally located with easy access to the area’s most notable employers.
”We expect that the buildings’ unique, superior construction with high-end finishes and comprehensive amenities will continue to attract residents and meet the growing rental demand in Orlando.”