Source: The GSH Group
ALTAMONTE SPRINGS, FL - The GSH Group, an experienced team of highly qualified and innovative multifamily real estate investors, acquired its first Florida property, for $62.8 million. The Preserve at Spring Lake is a 320-unit multifamily community in Altamonte Springs, FL, which is within the thriving and diverse northern suburban Orlando market located in Seminole county.
GSH plans to elevate this well-maintained 1970's vintage property, with capital improvements budgeted at over $3.8 million. Residents of The Preserve at Spring Lake already enjoy the use of five swimming pools and a low-density site plan, and GSH signature renovations will further amplify the residents' comfort and lifestyle. The upgrades contracted with Multifamily Commercial Construction LLC, headquartered in Oak Park, MIrun the gamut from renovating unit interiors and exteriors to installing exterior lighting and updating parking to implementing cost-saving efficiencies via human touch and tech touch.
"We are thrilled to have hired Bainbridge, a best-in-class third party property manager of this property, and we are confident they will help us push this property to its fullest potential," said Gideon Pfeffer, the managing partner at The GSH Group.
This acquisition and its capital improvement strategy align perfectly with GSH's goals to bring strong and steady returns to its investors and partners while enhancing the lives of its residents and all stakeholders through well-planned and measured value-add upgrades to its properties and via innovative social impact programs. The GSH Group's concierge approach to real estate investing allows investors to participate in the lucrative multifamily real estate market with ease and assurance that all the hard work and challenges are being managed and executed with expert stewardship.