Atlas at Winter Park represents TruAmerica’s 12th investment in the Orlando MSA. The asset is located in Orlando’s sought-after Winter Park submarket with top multifamily rent growth and limited future multifamily development. Atlas at Winter Park is situated near strong educational institutions including Rollins College, Full Sail University, and the University of Central Florida (UCF), which is the 2nd largest university in the US. Winter Park is also home to some of the highest rated schools in the state. As a whole, Orlando has seen immense growth in the tech and research fields with top employers including Boeing, Cisco, Northrop Grumman, and Raytheon. Furthermore, Orlando boasts a robust healthcare industry with AdventHealth Hospital East Orlando and Orlando Health Regional Medical Center. The continued growth seen in the Orlando MSA can be attributed to the diversity of white-collar employment opportunities in the metro area.
The 238-unit property was built in 1986 and features one, two, and three-bedroom floorplans with patios and balconies All 238 homes feature the same dated renovation level; as such TruAmerica will upgrade all 238 homes to a more modern finish level to include upgraded cabinetry, stainless steel appliances and microwave, quartz countertops with undermount sink, vinyl plank flooring, tile backsplash in the kitchen, and upgraded fixtures and hardware.
In addition to interior renovations, TruAmerica plans to renovate the amenities including a full renovation of the clubhouse including addition of a fitness center, upgrades to both pools, addition of a dog park, and aesthetic upgrades including exterior paint and landscaping upgrades.