Completed in fall 2009, The District at Universal comprises 425 apartment homes and more than 25,000 square feet of ground-floor retail space anchored by a Walgreens drugstore.
This investment was made through a joint venture between Behringer Harvard Multifamily REIT I and PGGM Private Real Estate Fund, an investment vehicle for Dutch pension funds.
Common-area amenities of the community, which is situated at 9702 Universal Boulevard in Orlando, include a resort-style pool with private cabanas, poolside barbecue areas with gas grills and picnic tables, a two-level fitness center with tanning booths, a media room, a cyber cafe with a kitchen, a business center with a private conference room, and lighted jogging trails around Lake Cay.
Apartments at The District, which average 942 square feet each, are available with one, two or three bedrooms and up to two baths. Interiors feature nine- or ten-foot ceilings, wood or stained concrete floors in living areas, walk-in closets, granite countertops, stainless-steel refrigerators, brushed nickel hardware, maple cabinetry and a washer and dryer in each unit.
Mark Alfieri, COO of Behringer Harvard Multifamily REIT I, said: â€œThe acquisition of The District at Universal continues our strategy of acquiring newer, well-located luxury apartment communities with the upscale amenities sought by today's apartment residents.
â€œWe are very pleased to acquire this community near the Orange County Convention Center and all of the employment opportunities created by the hospitality and tourism industries in Orlando.â€
Will the acquisition enhance the firm's market share?
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