Elandis Shells Out $127M For Six Multifams In Orlando, Daytona Beach

Miami-based Elandis has acquired six separate multifamily communities in Central Florida totaling 1,242 units for $126.5 million. The seller was Tzadik Properties, LLC.

• Tzadik Millennium: 4255 Barwood Drive, Orlando – 200 units, built in 1974.
• Tzadik Brookside: 3997 Rosewood Way, Orlando – 343 units, built in 1984.
• Tzadik Bay: 1225 S. Beach St., Daytona Beach – 248 residences, built in 1974.
• Tzadik Ridge: 2050 S. Ridgewood Ave, South Daytona – 232 units, built in 1973.
• Tzadik Park: Brentwood Dr., Daytona Beach – 119 units, built in 1964.
• Tzadik Rose: 200 Robert Street New Smyrna Beach – 100 units, built in 1973.

Elandis is planning an extensive series of upgrades to unit interiors, amenities and common areas.

“These properties have been an integral part of their communities for a long time, and as they are upgraded they will continue to serve a crucial need in the region’s rental housing market,” said Frank Espinosa, CEO of Elandis.

Source:  Connect CRE