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Middleburg Communities and Stockbridge Acquire Indigo Champions Ridge, a 300-Unit Class A Multifamily Community in Orlando MSA

·3 min read

VIENNA, Va., July 18, 2022--(BUSINESS WIRE)--Middleburg Communities ("Middleburg"), a fully integrated multifamily development, investment, construction and management company operating in the southeastern and mid-Atlantic United States, and Stockbridge, a private equity real estate investment management firm, today announced that they have acquired Indigo Champions Ridge, a 300-unit Class A multifamily community located in Davenport, Florida, a suburb of Orlando, one of the fastest-growing Metropolitan Statistical Areas in the country. Middleburg will take over management, operations and leasing responsibilities at the community, which was completed in 2022 and features resort-style amenities, a modern clubhouse and high-end finishes.

"We are pleased to enter the Orlando market with the acquisition of Indigo Champions Ridge, one of the area’s premier multifamily communities," stated Chris Finlay, CEO of Middleburg Communities. "We leveraged our proprietary data, research and analytics platform to study the market and are very bullish on its long-term fundamentals. We look forward to utilizing our proven operating platform to unlock value for our investors and deliver an exceptional living experience for our residents."

Indigo Champions Ridge comprises three, 10-story residential buildings situated on approximately 17 acres. The property offers a mix of 1-, 2- and 3-bedroom units with a variety of spacious and thoughtfully-designed floorplans. All units feature 10-inch textured ceilings, designer plank flooring, high-end lighting fixtures, oversized closets, ceiling fans in master bedrooms, granite countertops, stainless steel appliances, full-size washer/dryers and more. Premier amenities at the property include a resort-style swimming pool, a yoga lawn and a 24-hour state-of-the-art fitness center.

Located along heavily-traveled Ronald Reagan Parkway and the US-27 logistics corridor, Indigo Champions Ridge offers residents easy access to several popular retail, dining and entertainment destinations and many of the region’s major employers, including Disney, Walmart, Amazon, Ford, FedEx, UPS and CVS. Furthermore, the property sits just 15 minutes from Disney World and Universal Orlando, approximately 30 minutes from downtown Orlando and Lakeland, and less than one hour from Tampa.

Adam Bieber of Bellwether Enterprise structured the joint-venture between Middleburg and Stockbridge and the financing for the deal, which was provided by Synovus Bank.

Those interested in renting a unit at Indigo Champions Ridge should call the leasing office at (407) 723-7900 or email indigo@livemiddleburg.com. More information on the property is available by visiting www.indigochampions.com.

About Middleburg Communities:

Middleburg Communities is a fully integrated multifamily development, investment, construction and management company operating in the southeastern and mid-Atlantic United States. Since 2004, Middleburg has acquired and developed more than 22,000 apartment units, executing over $3 billion in transactions. The Middleburg team shares a vision for greater value creation through community impact. The firm’s success is rooted in a genuine desire to serve its local communities in thoughtful and holistic ways. Middleburg embraces people, property, and partnerships to enhance the lives of others, contribute positively to its neighborhoods and maximize real returns for partners. For more information, please visit www.MiddleburgCommunities.com.

About Stockbridge

Stockbridge is a private equity real estate investment management firm led by veteran industry professionals. The firm’s portfolio comprises assets across the investment risk spectrum, including core, value-added and opportunistic strategies. Stockbridge and its affiliates have approximately $30.8 billion of assets under management (as of March 31, 2022) spanning all major real estate property types and certain specialty property types throughout the United States. For more information, visit www.stockbridge.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220713005617/en/

Contacts

For Middleburg Communities
ICR
Jason Chudoba, Matthew Chudoba, Kerri Harper
middleburg@icrinc.com
203-682-8277

For Stockbridge
Casey Bowen, Stockbridge
bowen@stockbridge.com
470-443-9417