FNRP Acquires Multi-Family Asset in Florida

Davenport, FL (June 22, 2023)First National Realty Partners (“FNRP”) a premier commercial real estate private equity firm, today announced the addition of Champion Townhomes in Davenport, FL to its necessity-based portfolio. The acquisition of Champion Townhomes is a part of the firm’s continuous strategic expansion in the necessity-based commercial real estate sector. 

Champion Townhomes, a newly built multi-family property located near Orlando, FL, offers 132 units designed for comfortable living. These spacious units primarily consist of two and three bedrooms, boasting exceptional finishes such as granite countertops, stylish wood/tile flooring, top-quality chef-inspired kitchens with modern cabinets, double sink vanities, and energy-saving double-pane windows. The property also provides a range of amenities for residents to enjoy, including a refreshing pool, a convenient dog park, in-unit washer/dryer facilities, and personal garage space. 

“We believe that multi-family has remained a durable investment in periods of economic uncertainty,” said Eduardo Viesca, vp of joint venture sponsorships. “Due to an increase in home prices and interest rates, home ownership is not an option for many, leaving them searching for affordable housing options like Champion Townhomes. This along with the area’s strong market and affluent demographics make it an attractive investment.”  

Located just 40 miles from Orlando and 16 miles from Winter Haven, the asset benefits from a growing population. From 2010 to 2020, the area’s average population growth increased by 13.5%. It is strategically located near top employers and attractions such as Walt Disney World and other Florida theme parks, AdventHealth, Publix, and more. Within a five-mile radius of the property, the average household income is $51,000. The deal was co-sponsored by Southport Financial. 

FNRP provides accredited investors with access to what we believe are institutional quality commercial real estate assets in the necessity-based real estate sector: grocery-anchored retail, multi-family, and industrial by sourcing opportunities both on and off-market nationwide. From acquisition to disposition, FNRP oversees the entire investment lifecycle 100% in-house, leveraging top talent in legal, acquisitions, leasing, and other key areas. For more information, visit www.fnrpusa.com. 

Disclaimer: An investment in commercial real estate is subject to risk, including the risk that all of your investment may be lost. Any representations concerning investing in commercial real estate; to include representations as to stability, diversification, security, resistance to inflation and any other representations as to the merits of investing in commercial real estate reflect our belief concerning the representations and may or may not come to be realized. Cash distributions are not guaranteed. 

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Contact: 

Jessica DeMarino

jdemarino@fnrpusa.com 

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