Home Alts News RK Properties Buys Florida Multifamily Property for DST Offering

RK Properties Buys Florida Multifamily Property for DST Offering

RK Properties, a sponsor of 1031 exchanges and other private placement offerings, has purchased Pointe at East Shore Apartments in Apopka, Florida.

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RK Properties, a sponsor of 1031 exchanges and other private placement offerings, has purchased Pointe at East Shore Apartments (formerly Alta East Shore), a 285-unit multifamily property located in the Orlando suburb of Apopka, Florida. The property will be offered to accredited 1031 exchange and straight capital investors as a Delaware statutory trust investment offering.

Built in 2021, Pointe at East Shore Apartments is a three-story property comprised of one-, two-, and three-bedroom units ranging in size from approximately 760 to 1,300 square feet. Amenities include a swimming pool and cabanas, fitness center, pet park, outdoor pizza oven and grilling stations, pool pavilion with beer tap, a game room with billiards, among others. The property also offers nearby access to the 14.6-mile Lake Apopka Loop Trail on Florida’s fourth-largest lake.

“Pointe at East Shore is the perfect example of our focus on acquiring best-in-class product from nationally-ranked developers. The Apopka market is set to grow in leaps and bounds so we’re excited to be an early entrant into this burgeoning submarket of Orlando,” said Daniel Swersky, director of sales and acquisitions.

Apopka is one of the fastest growing and largest cities in the tri-county region that includes Orange, Osceola, and Seminole Counties, and has doubled its population since 2000.

According to the company, the population growth has spurred new residential and commercial developments within miles of the property. These include the $203 million AdventHealth Apopka Medical Campus, the 2.4 million-square-foot Mid-Florida Logistics Park, and the $1.6 billion Wekiva Parkway Extension that represents the final link in Central Florida’s beltway system and is slated for completion in 2023.

“These remarkable growth dynamics position Pointe at East Shore at the forefront of western Orlando’s torrid growth trajectory, providing investors with the rare opportunity to acquire a core-quality asset with additional upside in one of the nation’s strongest rental markets,” the company said.

RK Properties has a 40-plus year track record, dating back to 1976, in the multifamily market. To date, the Company has purchased and managed over $1.5 billion in assets across the country.

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