Sale Consists of Three Apartment Properties Throughout Florida
NAPLES, Fla.–(BUSINESS WIRE)–Halstatt Real Estate Partners, a real estate private equity firm, today announced the sale of the SunMeadows Portfolio, a three-property portfolio comprised of 538 units. Aqua at Windmeadows is located in Gainesville, Florida while The Boulevard and The Oasis are located in Daytona Beach, Florida. Halstatt Real Estate Partners worked with GoldOller Real Estate Investments to implement a value-add capital improvement plan focused on enhancing community amenities and upgrading resident accommodations.
“We worked alongside the GoldOller team to identify and implement a value-add business plan that centered around upgraded interior finishes and thoughtful renovations to community amenities,” said Steve Iannaccone, principal, Halstatt Real Estate Partners. “We are very pleased with our partnership’s ability to transform the physical appeal and financial performance of the portfolio over a three-year period. This exciting disposition marks our fifth multifamily realization over the last six months.”
“The GoldOller partnership with Halstatt proved to be a very successful one,” said Jake Hollinger, president and COO of GoldOller Real Estate Investments. “We are pleased with the results our value-add program had at all three communities. These improvements benefited not just our residents, but the Daytona and Gainesville areas as a whole. We look forward to the potential of working with the Halstatt team again in the future on similar projects.”
Built in 1972, Aqua at Windmeadows is located at 3700 Windmeadows Boulevard in Gainesville, Florida and includes 323 updated units. It is surrounded by 2.7MM+ square feet of retail, making it a prime location to live, work, and play.
Daytona Beach, Florida
The Boulevard Apartments, built in 1986, are located at 1757 S Clyde Morris Boulevard in Daytona Beach, Florida and include 96 updated units.
The Oasis, built in 1986 is located at 1250 Woodcrest Road in Daytona Beach, Florida, less than a mile from The Boulevard Apartments. The property includes 119 updated units.
Halstatt Real Estate Partners identifies value-add and opportunistic real estate projects throughout Florida, the Southeast, and Texas. The company partners with qualified sponsors to develop and implement a strategic business and capital improvement plan to maximize demand driven acquisition and development opportunities.
About Halstatt Real Estate Partners
Halstatt Real Estate Partners (“HREP”), a women-owned real estate private equity firm, has participated in the acquisition and development of over $1 billion in Southeast-based real estate assets since 2011. Founded by the Sproul family, based in Naples, Florida, and a proud part of the Barron Gift Collier legacy in Southwest Florida, HREP invests in middle-market, value-add, and opportunistic commercial and residential real estate projects. HREP works with best-in-class local and regional operating partners to maximize the value of its real estate investments. HREP invests alongside a cross-section of institutional limited partners from fund to fund including charitable foundations and endowments, domestic and international family offices, and corporate pension funds with a history of continuity.
About GoldOller Real Estate Investments
Formed in 2008 by industry veterans Richard Oller and Jeffrey Goldstein, GoldOller is a leader in the multi-family housing industry and an innovative owner-operator of apartment communities throughout the United States. GoldOller owns and operates about 14,000 apartments in 11 states.
Multifamily Management Services, a GoldOller affiliate, provides third-party management to communities with about 30,000 units, while other affiliates develop, own, and operate condominium, office, hotel, industrial, and retail assets. GoldOller has corporate offices in Philadelphia and New York City, as well as regional offices located in Kansas City, Atlanta, Orlando, and Columbus, OH.