Robbins Electra has closed on the purchase of an Orlando area apartment community, Lake Ellenor. The buyer plans to rebrand the 296 unit property as Enclave at Lake Ellenor. Located at 2100 West Oak Ridge Road, the community features of one-, two- and three-bedroom units in 31 two-story buildings, along with a fitness center, business center, two swimming pools and 600 parking spaces. Built in 1973, the community was 95 percent leased at the time of the sale. Robbins Electra is planning upgrades to the community’s interiors and amenities, including a summer kitchen, pool furniture and dog park. The purchase marks the firm’s 30th multifamily acquisition in the last year, bringing its management portfolio to more than 21,000 units.
“The Robbins Electra investment in Lake Ellenor is yet another signal of our long-term faith in the Orlando market and another step in our plan to grow the company in solid markets throughout the south. Enclave at Lake Ellenor will be fully renovated and provide great amenities and living environments for working people in Orlando,” said Joe Lubeck, CEO of Robbins Electra, in a prepared statement.
