Residential

Jefferson Lake Howell

Orlando, FL

Acquired March 2022

At a Glance

This amenity-rich, lakefront, 384-unit garden-style apartment community was acquired for approximately $154 million.

Investment Rationale

  • A newly constructed, class-A apartment community in the northern Orlando suburb of Casselberry, Florida. This amenity-rich, lakefront, 384-unit garden-style apartment community was acquired for approximately $154 million.

  • Located less than 10 miles north of Downtown Orlando, Jefferson Lake Howell provides residents with easy access to highways serving major employment and transportation nodes via Interstate Highway 4 and State Road 17, along with nearby retail amenities including a Publix-anchored shopping center, a Walmart Supercenter and numerous dining and entertainment options.

  • The Orlando apartment market is a LaSalle Research & Strategy recommended overweight for core investment given its strong in-migration trends, limited for-sale housing stock and record-low residential vacancy rates. Orlando’s population is forecasted to grow 1.9 percent through 2026, well above the US average of 0.7 percent, while vacancy currently sits at a record-low 2.1 percent, below its 20-year average of 5.6 percent. The property is also within three miles of highly rated schools that are part of Seminole County’s school system, which ranks in the top five in Florida.

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Location

Jefferson Lake Howell Property map 01