TH Real Estate acquires multifamily asset in Orlando Florida
TH Real Estate has acquired Sole at Casselberry, a 336-unit multifamily asset in Casselberry, FL.
Constructed in 2017, Sole at Casselberry offers state-of-the-art amenities with top-of-the-market interior finishes accompanied with 12,000 sq ft (1,115 sq m) of outdoor space and a private fitness centre. Three miles east of Interstate 4 and approximately 10 miles north from downtown Orlando, the asset provides tenants with proximity to retail and entertainment hubs and employment centers.
"This asset is a Class-A garden style product, almost fully occupied, in a high barrier-to-entry market with access to major employment centres such as Altamonte Springs, Maitland, Winter Park and Lake Mary," said Carlos Burneo, Director at TH Real Estate and lead for multifamily in Florida. "Orlando’s continuous employment and population growth is a clear match to our tomorrow's world investment strategy."
TH Real Estate’s Global Cities approach considers commercial real estate opportunities through the context of global megatrends such as urbanisation, the rising affluence of middle classes, an ageing population in developed markets, and rapid technological change. Cities such as Orlando stand to benefit from these megatrends by offering innovation, economic growth and cultural appeal.
TH Real Estate manages approximately $10 billion of multifamily housing assets globally, focusing on rental housing investments in demand-driven markets. TH Real Estate's U.S. multifamily housing investment platform serves numerous funds and mandates and has 32,000 units of urban luxury, workforce and student housing assets under management.
Note: TH Real Estate renamed to Nuveen Real Estate in January 2019.TH Real Estate is a real estate investment management holding company owned by Teachers Insurance and Annuity Association of America (TIAA). TH Real Estate securities products distributed in North America are advised by UK regulated subsidiaries or Nuveen Alternatives Advisors, LLC, a registered investment advisor and wholly owned subsidiary of TIAA, and distributed by Nuveen Securities, LLC, member FINRA. Issued by Nuveen Real Estate Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority. TH Real Estate is a name under which Nuveen Real Estate Management Limited provides investment products and services. Please note real estate investments are subject to various risks, including fluctuations in property values, higher expenses or lower income than expected, and potential environmental problems and liability. This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor's objectives and circumstances and in consultation with his or her advisors.