Deerfield Beach based Konover South LLC, in partnership with Blue Rock Partners LLC, Tampa, completed its eighth apartment acquisition in the past year, raising its Florida portfolio to 8,000 units. With its $22.5 million purchase of Hunters Ridge Apartments, a 238-unit complex located in Winter Park, it increased the number of apartments the partners have bought in the Orlando area (through four investments) to more than 2,200. The new owners plan to invest another $2 million in interior and exterior upgrades, and will re-brand the community as The Park at Napoli.
“The Hunter’s Ridge community is the partnership’s fourteenth Florida acquisition in the past two years totaling some 4,000 units,” stated David Coppa, CEO of Konover South. Coppa added that the partnership’s multifamily portfolio in Orlando, Lakeland, Tampa Bay and Fort Myers has doubled since January 2013.
