LEESBURG, FL – The Vestcor Companies is proud to announce the acquisition of Cypress Oaks, a 140-unit affordable housing community in Leesburg, Florida.
A core competency of Vestcor Companies is acquiring or developing apartment communities that provide families with quality affordable housing. Vestcor has developed or acquired over 5,000 affordable apartment units and currently owns over 4,400 units in Florida and Texas.
The purchase of Cypress Oaks marks the 25th multifamily community in Vestcor’s expanding portfolio. John D. Rood, former U.S. Ambassador to the Bahamas and Chairman of The Vestcor Companies states, “We’re excited about entering the Leesburg market. This property has great potential. We look forward to investing funds, time and our expertise to make Cypress Oaks a great place to live.”
Vestcor is investing significant dollars to improve the existing buildings, units and amenities. The community amenities include a community center, swimming pool, fitness center, computer lab, children’s playground, laundry center and car wash area. Apartment features include concrete construction, fully-equipped kitchens, washer dryer connections and private outside storage.
WRH Realty, Inc has been hired as the management company for Cypress Oaks. WRH is a valued partner of Vestcor and manages fifteen other Vestcor communities throughout Florida.
About The Vestcor Companies
Drawing on over 30 years of real estate development experience, Vestcor continues to excel in the areas of multifamily real estate development and investment. Throughout its history, Vestcor has developed in excess of 11,000 multifamily units, including new construction and acquisition rehabilitation of affordable, student, conventional and historical buildings. Vestcor’s long-term approach results in communities that both Vestcor and the residents are proud of. For more information, please visit www.vestcor.com