AXA IM Alts has acquired a 285-unit multifamily asset in Orlando, Florida on behalf of clients.
Strategically located in Orlando, the asset was acquired through a joint venture between AXA IM Alts and RPM Investments.
RPM will operate the day-to-day management of the asset.
Known locally as Vida at Health Village, the asset offers newly built apartments which were completed in 2022. The property comprises a mix of studio, one bed, two bed and three bedroom units across seven stories.
Located within Health Village, a 172-acre mixed-use development focused on healthcare and innovation, the complex sits adjacent to AdventHealth Orlando, the third largest hospital in the United States. It is a 20-minute drive from one of America’s largest universities, University of Central Florida, and only a seven-minute drive from Orlando’s central business district, providing easy access for resident needs.
The Orlando multifamily market continues to be supported by strong demographic drivers, with the city’s population forecast to increase by over 46% by 2050. This transaction forms part of AXA IM Alts’ conviction and long term global strategy to invest into residential assets. AXA IM Alts’ global residential exposure currently stands at 80,000 units, contributing to a global residential portfolio of €28.5 billion ($30.2 billion) of assets under management.
Steve McCarthy, Head of North America at AXA IM Alts, Real Estate, commented: “This transaction has provided a further opportunity to extend our sizeable U.S. multifamily portfolio, into one of the fastest growing and sought after submarkets in Florida. This prime and modern asset is strategically located, with excellent access to the city center and a wealth of nearby healthcare and leisure facilities, and is well positioned to benefit from the demand for high-quality, professionally managed residential complexes that can deliver highly amenitised and tech-enabled offerings in line with how people want to live and work.”
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