CGI+ closed on the acquisition of Park Place in December 2021, a 275-unit multifamily community in the Orlando, FL submarket of Oviedo for $68.95 million. Park Place is a garden-style community offering a mix of one-, two-, and three-bedroom floor plans that was completed in 2015 as part of the Park Town Center development, a 108-acre master planned town center.
The community is located within the Central Florida STEM corridor, which provides access to thousands of high-paying life and health science jobs as well as higher education and medical jobs.
CGI+ intends to implement its value-add strategy by completing repairs to various upfront capital expenditures, rebuilding the downed 33 unit building destroyed in a lightning storm, and bringing rents up to market. Our strategy is currently being executed and is expected to complete before the end of 2022.
|Property Address:||940 City Plaza Way, Oviedo, FL|
|Investment Type:||Residential Value-Add|
|Asset Type:||Luxury Multi-family|