Hamilton Point acquired the 300-unit Bridgewater Grand in Lakeland, Florida, for $57.4 million. TrimCor was the seller. Business Observer reports Trimcor paid $2.5 million for the then-vacant land in 2019. Construction began in 2020. The property was 95% occupied at the time of sale. Public records list the price at $57.4 million.
The property at 5546 Autumn Ridge Road is a three-story, garden-style apartment community on 31 acres. The property’s one-to three-bedroom apartments offer plans ranging from 1,219 to 1,853 square feet. The units offer private patios/balconies with storage and private offices in two-bedroom units. The amenities include 3,500 feet of lake frontage; zero-entry saltwater pool with large sundeck; 24-hour fitness facility; electric car charging stations, car care center and 56 garages available for rent; resident clubhouse with rentable conference room and event space, café bar, business center and TV lounge; playground and bark park; and a maintenance shop.Â
David Etchison, Cole Whitaker, Jason Stanton, and Mary Beale of Berkadia Central & North Florida led the transaction on behalf of the seller.
The post Hamilton Point Purchases 300-Unit Lakeland Apartment Community appeared first on Connect CRE.
​Â
