SANFORD, FL - Robbins Property Associates ("RPA"), a vertically integrated multifamily owner and operator, has partnered with a publicly-traded insurance company to acquire Lake Monroe Apartments. The expansive 280-unit NGBS Green Certified complex was completed in 2020. The property, which was re-branded Vue on Lake Monroe, is located in the quickly expanding Sanford/Lake Mary submarket in Seminole County.
The property is centrally located with ease of access to Interstate 4 and the SunRail, which provides access to over 20.9 million square feet of corporate office space. The area provides a high proportion of healthcare, finance, and education jobs, including AAA, Deloitte, and multiple hospitals.
"Sanford/Lake Mary has high-growth potential and was relatively resilient during 2020. We expect these positive trends to continue due to the robust local job market and continued population growth," said Neal Herman, Managing Director of Investments at RPA. "Vue at Lake Monroe provides the right balance of high-end interior finishes and amenities while remaining affordable in terms of competing with other brand-new product."
Vue on Lake Monroe is a newly constructed luxury apartment community situated directly across from the Sanford Riverwalk. The community features picturesque views of Lake Monroe, a screened-in resort-style saltwater pool, a state-of-the-art strength and fitness center, and electric vehicle charging. Each unit boasts designer cabinetry imported from Italy, natural polished stone countertops, custom hardware, premium stainless-steel appliances, and hardwood-style flooring. With the historic downtown Sanford with its charming cafés, upscale restaurants, and trendy bars just minutes away, Vue on Lake Monroe sets the stage for a flawless living experience.
RPA will install the finishing touches to the interiors with modern kitchen tile backsplashes. Community amenity upgrades will highlight enhancements to the fitness center and pool, and the addition of a fenced bark park.
"Vue at Lake Monroe is well-suited to meet the growing demand from renters who prefer an urban lifestyle plus the comforts of suburban, waterfront living," said Kristi King, Chief Operating Officer & Principal of RPA. "We are very excited to add this community to our Orlando portfolio."
Source: Robbins Property Associates