CHICAGO, July 20, 2022--(BUSINESS WIRE)--An affiliate of Walton Street Capital, L.L.C. ("Walton Street") announced that it has acquired a 326-unit Class A multifamily garden-style property located at 3250 Orleans Avenue in Kissimmee, FL (the "Property") in partnership with RPM Living Investments ("RPM"). Walton Street plans to rebrand the Property to be called the Muse at Winter Garden.
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Dolce Living Royal Palm, a 326-unit multifamily community near Orlando, FL (Photo: Business Wire)
Built in 2021, the Property features a mix of one, two, and three-bedroom apartments that are currently 94% leased. Unit amenities include granite countertops, stainless-steel appliances, washers/dryers in-unit, and 9’ and 10’ ceilings. Community amenities feature a resort-style pool with cabanas, state-of-the-art fitness center, golf simulator room, spinning room, movie theater room, business center, covered parking, and dog park.
The Property is situated in the Kissimmee submarket of the Orlando MSA and is conveniently located just a short drive from I-4 and W Irlo Bronson Memorial Highway providing easy access to job centers in the healthcare, distribution, and tourism industries. The immediate area is seeing significant growth with the development of a large resort less than a mile from the Property that will feature a high-end outlet shopping center.
"We are excited about establishing our footprint in Orlando and expanding our relationship with our long-time partner RPM. The Muse represented the opportunity to acquire a well-located, newly-constructed community with a robust amenity base, in a market that continues to benefit from outsized job and population growth," said Tom Jaeger, Principal at Walton Street.
About Walton Street Capital, L.L.C.: Walton Street is a private equity real estate investment firm that, since its inception in 1994 through its affiliates, has raised over $15 billion of capital commitments. Walton Street’s principals have collectively acquired, financed, managed, and sold over $50 billion of real estate and have an average of 21 years of real estate industry experience. Senior management has collectively invested and managed both real estate equity and debt through several real estate cycles over five separate decades and more than 40 years, forging long-term and deep relationships with lenders, public and private real estate owners, operators, brokers, managers, and industry service providers.
About RPM Living: RPM Living is a full-service multifamily management company offering an innovative and personalized approach to real estate services including management, investment and development. Headquartered in Austin, Texas, RPM is ranked #7 on the NMHC Top 50 Largest Apartment Manager list, managing more than 100 clients, nine regional offices and 112,000 units, with an owned portfolio of $3 billion. Founded by Jason Berkowitz in 2002, the firm has grown to over 2,400 associates nationwide spread across over 35 markets, all of whom share the collective vision to enhance clients’ investments through customized solutions and exceptional resident-centric service. To learn more about RPM, visit RPMLiving.com.
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Walton Street Capital, L.L.C.