AXA IM Alts, a global alternative investment firm, has continued its U.S. expansion with the acquisition of Vida at Health Village, a 285-unit multifamily community in the Uptown area of Orlando, Fla. Conti Organization sold the apartments, according to CommercialEdge data.
The transaction was made through a joint venture of AXA IM Alts and RPM Investments, which will be the property manager. The sale price was not disclosed.
The acquisition comes about one year after a joint venture of Ustler Group and Wood Partners sold the property at 2680 N Orange Ave., then known as Alta at Health Village, to Conti Organization for $107 million. The partners had co-developed the asset located within Health Village, a 172-acre mixed-use development focused on healthcare and innovation.
Completed in 2022, the community is adjacent to AdventHealth Orlando, the third largest hospital in the United States.
Property details
Vida at Health Village has studio, one-bedroom, two-bedroom and three-bedroom units across seven stories. All units have high-end finishes and washers and dryers. Apartments feature smart home technology including electronic entry door hardware and connected thermostats.
Residents have access to wellness and community amenities including a heated pool, fitness center, pet grooming studio and gaming lawn. The asset features rooftop terrace with views of Orlando, a wine bar and café, a ride share waiting area and an electric car charging station.
The property is an approximately 20-minute drive from the University of Central Florida and a 7-minute drive from Orlando’s central business district.
Growing portfolio
Steven McCarthy, head of North America at AXA IM Alts, Real Estate, said in a prepared statement the transaction further extended the firm’s sizeable U.S. multifamily portfolio in a fast-growing and sought-after submarket in Florida. McCarthy said the property is a prime and modern asset that is strategically located and has excellent access to the city center and numerous nearby healthcare and leisure facilities.
Last March, AXA IM Alts acquired Metro 808, a 237-unit community in Charlotte, N.C., with joint venture partner Hawthorne Residential Partners for an undisclosed price.
In September 2022, the company acquired a 271-unit community in Houston in a joint venture with RPM Living.
