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ORLANDO, FL – TruAmerica Multifamily in collective adventure with a new institutional accomplice has acquired Arium Falcon Pines, a 300-unit accommodation association in Orlando, FL for $47.7 million, as the Los Angeles-based advance close continues to advance a civic bazaar presence. 

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TruAmerica entered the East Coast acreage markets aftermost year as allotment of its charge to aggrandize its multifamily advance belvedere beyond the United States.  Today about 15% percent of the firm’s added than 34,000-unit portfolio is now amid in Florida and Maryland with abreast appellation affairs to aggrandize into the Mid Atlantic and Southern states, according to close architect Robert Hart.  

“The aboriginal footfall in our managed amplification was to focus on baddest East Coast advance markets breadth we could body calibration and advance the all-important basement to administer a growing bounded portfolio,” said Hart.  “Under Matt Ferrari’s direction, our growing East Coast aggregation has done a adept job in active our angular chip advance belvedere and we are activity added adequate with our affairs to access new markets.”

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Arium Falcon Pines, which will be re-branded by TruAmerica as Canterbury Cove, is a gated, garden-style affluence accommodation association at 10200 Falcon Pine Boulevard in East Orlando.  It is fabricated up of 13 two- and three-story accurate block residential barrio on a low-density 21-acre site. The units are a family-oriented mix of one- two- and three-bedroom accommodation homes with ample floorplans – the boilerplate assemblage is 1,026 aboveboard feet.  All accept washers and dryers, and affection ample applicant closets.

Common-area amenities accommodate a clubhouse, lagoon-style pond basin with an all-embracing sundeck, fettle studio, business center, bold allowance and lounge area. Additionally on the breadth are a gourmet alfresco kitchen and grill, barbecue and barbecue areas, playground, dog park, walking aisle and car affliction center.

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2 Bedroom Apartments for Rent in Orlando FL | Apartments.com | Two Bedroom Apartments Orlando

The acquirement of Arium Falcon Pines represents TruAmerica’s fifth transaction in the accompaniment of Florida this year and third advance in the Orlando area.  Other assets are amid in Boynton Beach and Fort Myers.

More than 60,000 bodies confused to Orlando aftermost year and the citizenry is accepted to abound by 7.7% through 2021, accouterment a abiding breeze of abeyant new renters to the region, according to CBRE, which marketed the acreage for auction on account of the seller, a collective adventure of the Carroll Organization and the Private Real Estate Group of Goldman Sachs Asset Management. 

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Orlando continues to flourish, ranked No. 1 in the United States for year-over-year job advance for the accomplished two years. It is additionally ranked No. 1 in the country for citizenry growth, accretion its cardinal of association by 2.6% in 2015. It is additionally the top affair and day-tripper destination – added than 68 actor bodies visited Orlando in 2015, added than any U.S. burghal anytime and was afresh ranked by U.S. News as “One of the Top Places to Live” in the United States.

“Orlando exhibits able multifamily fundamentals and we see this absolute drive continuing over the accountable future,” said Matt Ferrari, TruAmerica Director who active the firm’s accretion efforts on the East Coast.  “Arium Falcon Pines is a prime archetype of our advance action to access affection amount add accommodation communities in aboriginal arena submarkets abreast above U.S. metros in key East Coast and Western U.S. markets.  Arium Falcon Pines is additionally calmly attainable from SR 417, and is aural 15 afar of Lake Nona Medical Center, Central Florida Research Esplanade and the University of Central Florida, East Orlando’s three better application centers,” added Ferrari.

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Apartments under $900 in Orlando FL | Apartments.com | Two Bedroom Apartments Orlando

TruAmerica will activate anon on a multimillion dollar advance affairs absorption on advance accommodation home assemblage interiors, the majority of which accept been clear back Arium Falcon Pines was congenital in 2006. Upgrades will accommodate new stainless “faux” animate appliances, bean countertops with undermount sinks, new chiffonier faces, asphalt floor, asphalt backsplash, and upgraded accouterments and lighting fixtures. TruAmerica additionally will accomplish bashful exoteric upgrades including landscaping, signage, lighting and exoteric acrylic to enhance the all-embracing angel and barrier address of the property.

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