Sarasota-Based Insula Companies Acquires Apartment Community For $23 Million
This Florida Purchase Marks the Firm’s Eighth Acquisition in 2015
Sarasota, Florida – September 10, 2015 – Insula Companies – a Sarasota-based firm specializing in apartment community Acquisition and revitalization on behalf of private investors – announces the recent Acquisition of Charter Pointe Apartments in Altamonte Springs, Florida. This purchase marks the eighth for Insula Companies in 2015 and the 24rd since 2009. “We are excited to have acquired another lender-owned, 312-unit apartment complex out of foreclosure for a low price,” said Fred Cochran, President of Insula Companies. “The property represents an example of the unique opportunities we source for our private investors.”
This marks the second property purchased this year in Altamonte Springs, a suburban city outside of Orlando, Florida. Insula Companies’ plans for the property include a $2.5 Million renovation, which coincides with the company’s mission to find, improve, manage and maximize the value of apartment communities . With this move, Insula adds to its holdings in the Orlando metropolitan statistical area (MSA).
With properties in Tampa Bay, Orlando, Jacksonville, Lakeland and throughout Southwest Florida, Insula Companies pursues only the communities considered to have the best future value for investors. Among the criteria to qualify for Acquisition, an apartment community must be a class B or C property with a minimum of 150 units, 15 to 40 years old, present value-added potential through cosmetic or substantial rehabilitation work, and have market-related and/or management induced challenges.
Recent Statistical Update – Insula Companies
Since 2009, Insula Companies have acquired approximately 5,000 units with a value in excess of 0 Million in Florida-based multi-housing complexes. With regional offices serving multiple major Florida markets, the firm has developed an unparalleled understanding of the communities acquired and their future promise for enhancement and return. For more information, visit InsulaCompanies.com or call 941.960.7000.