New York – August 7th, 2023 - Journey Capital Real Estate Partners, a New York-based national real estate investment firm, acquired Alta Cypress, a newly constructed, 342-unit multifamily property located within the city of Longwood, Florida in Seminole County, which is part of the greater Orlando MSA. Peter Calatozzo, Managing Partner and Josh Kogel, Managing Director announced the acquisition.
“The Orlando MSA continues to be one of the strongest employment and population growth markets in the US, providing relative affordability to tenants and, as such, a multifamily market in which we have a high level of conviction,” said Peter Calatozzo. “The acquisition of Alta Cypress expands our footprint in the Orlando MSA and furthers our strategy of acquiring high quality properties in a market which we believe will remain among the nation’s leaders in growth.”
“Alta Cypress features several of the key attributes that fit our target investment profile, including a number of attractive multifamily supply and demand fundamentals,” said Josh Kogel. “Residents are proximate to a well-diversified, resilient, and growing employment base, including a short commute to facilities for major healthcare providers such as AdventHealth and Orlando Heath. Complementary to the market’s strong demand drivers, this submarket has seen minimal deliveries, with only 5 properties built in the past 23 years.”
Constructed in 2022, Alta Cypress is a high-quality multifamily community, which features superior unit interior finish levels, including crystal white quartz countertops, a Whirlpool stainless-steel appliance suite with glass top ranges equipped with front controls, side-by-side refrigerators with ice makers, under-cabinet lighting, soft-close cabinet doors and drawers, Moen plumbing fixtures, tiled backsplash, floor-to-ceiling tiles in bathrooms, and full-sized washer/ dryer sets.
The community provides residents with an expansive amenity set, featuring a 24-hour fitness center with yoga room and Echelon Mirror, an expansive clubhouse with multiple meeting spaces, billiards, a community kitchen, and a game room, a resort-style swimming pool with sun shelves and private cabanas, a poolside pavilion with a wet bar, two dog parks, multiple outdoor grilling stations, and five different fire pit areas.
About Journey Capital
Journey Capital is a real estate investment manager that utilizes a comprehensive data driven approach to identify attractive investment opportunities with the objective of optimizing value for investors. We believe that demographic trends and structural shifts to behavioral patterns will drive demand for certain real estate throughout the United States. We seek to capitalize on this investment philosophy in markets where we have a high level of conviction. Journey Capital will acquire, develop, and asset manage multifamily, industrial, and mixed-use properties throughout the United States. For more information, please visit www.journeycapitalrealestate.com.
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