LLoyd Jones | Lloyd Jones Acquires 306-Unit Apartment Community in Orlando

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Lloyd Jones Acquires 306-Unit Apartment Community in Orlando

Lloyd Jones Acquires 306-Unit Apartment Community in Orlando

Multifamily investment firm Lloyd Jones has acquired Arium Grandewood, a 306-unit apartment community in South Orlando. The sales price and seller was not disclosed.

Built in 2005, the garden-style community consists of a mix of one-, two- and three-bedroom floor plans. Amenities include a resort-style pool, BBQ pavilion, fitness center, volleyball court and business center. Lloyd Jones’ plans for the property include $2.7 million in capital improvements that include a two-level interior renovation package program comprising 95 percent of the units.

“The acquisition of Arium Grandewood is part of our strategic investment plan focused on established Orlando properties that are centrally located and well-positioned for value-add opportunities,” said Ashley Socarras, EVP of investments at Lloyd Jones.

Lloyd Jones Acquires 306-Unit Apartment Community in Orlando