COLONIAL PROPERTIES BUYS ORLANDO APARTMENT COMPLEX FOR $43M

by admin

ORLANDO — Colonial Properties Trust has acquired the 280-unit Colonial Grand at Windermere, formerly Altis at Lakes of Windermere, in Orlando for $43 million. The Class A, garden-style community includes a cyber cafe, media room, resort-style pool, movie theater and outdoor wet bar. The property is 96 percent occupied and has an average monthly rent of $1,158 per unit. The acquisition was funded in part with proceeds from the sale of assets last year.

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