APOPKA AND KISSIMMEE, FLA. — Orlando-based ZMR Capital has purchased two multifamily communities in metro Orlando totaling 560 units. The two properties include Laurel at Altamonte Apartments in Apopka (240 units) and Camila in Kissimmee (320 units).
Shelton Granade and Luke Wickham of Institutional Property Advisors, a division of Marcus & Millichap, represented the undisclosed seller in the transaction. The sales price was not disclosed.
Built in 2000, the Laurel at Altamonte features 11 two-story buildings spread over 14.5 acres. Unit features include quartz countertops, oversized closets, laundry rooms and wood-plank flooring. Community amenities include a fitness center, pool, private garages and a bark park with a pet washing station.
Built in 1990, Camila has 14 three-story buildings spread over 27 acres. Unit features include granite countertops, walk-in closets, screened patios or balconies, large windows and washers and dryers in each residence. Community amenities include a pool, heated Jacuzzi, pool deck, fitness center and a clubhouse.
Both properties feature one-, two- and three-bedroom floorplans. The common areas and exteriors at each property have all been upgraded. ZMR Capital plans to initiate a capital improvement plan at both properties designed to upgrade all unit interiors with modern features such as stainless steel appliances, quartz countertops, subway tile backsplashes, vinyl plank flooring, upgraded lighting and plumbing fixtures and the addition of Nest thermostats.