CBRE Global Investors Acquires 280-Unit Residential Community in Orlando
07 Jul 2021
Kestra is a garden-style, four-story building that includes a mix of one-, two-, and three-bedroom apartments. The units feature contemporary finishes, including stainless-steel appliances, granite countertops, faux-wood flooring, screened-in patios, double-sink vanities, among other high-end design features. Tenants have access to an exclusive collection of amenities, which include a two-story clubhouse, a resort-style pool with cabanas, a fire pit and lounge area, a fitness center and outdoor workout stations, grilling stations, eight EV charging stations, a dog park, a bike repair shop and package lockers.
“At Kestra, we plan to utilize our local-market expertise, which we’ve been able to develop through the operation of nearby residential assets owned on behalf of the fund, to lease up the remaining availability at the property,” said Kim Hourihan, Chief Investment Officer for the Americas Direct Real Estate Strategies and Portfolio Manager for CBRE Global Investors. “We believe that Kestra will continue to attract a variety of renters due to its modern design and competitive amenity collection, which we plan to bolster with our firm’s proprietary A&BTM tenant experience program.”
Situated 20 miles south of the Orlando CBD, Kestra is found in the Southwest/435 submarket, which is known for strong demographics, some of the MSA’s top schools, and its accessibility to employment throughout the region, including the state’s largest private employer. The property is a 25-minute drive from the Orlando International Airport.
About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $129.1 billion in assets under management* as of June 30, 2021. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2020 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees serving clients in more than 100 countries. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.