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Sarasota-Based Insula Companies Acquires Apartment Community For $23 Million
This Florida Purchase Marks the Firm’s Eighth Acquisition in 2015
This marks the second property purchased this year in Altamonte Springs, a suburban city outside of Orlando, Florida. Insula Companies’ plans for the property include a $2.5 million renovation, which coincides with the company’s mission to find, improve, manage and maximize the value of apartment communities. With this move, Insula adds to its holdings in the Orlando metropolitan statistical area (MSA).
With properties in TampaBay, Orlando, Jacksonville, Lakeland and throughout Southwest Florida, Insula Companies pursues only the communities considered to have the best future value for investors. Among the criteria to qualify for acquisition, an apartment community must be a class B or C property with a minimum of 150 units, 15 to 40 years old, present value-added potential through cosmetic or substantial rehabilitation work, and have market-related and/or management induced challenges.
Recent Statistical Update – Insula Companies
Since 2009, Insula Companies have recognized the potential for apartment community acquisition and revitalization and provided investors with a portfolio of more than 3,200 units and $200 million in assets in Florida-based multi-housing complexes. With regional offices serving multiple major Florida markets, the firm has developed an unparalleled understanding of the communities acquired and their future promise for enhancement and return. For more information, visit InsulaCompanies.com or call 941.960.7000
Grapevine Communications provides full-service advertising, marketing and public relations services to clients nationwide. The firm is the most award-winning advertising agency in Sarasota, Florida, and the surrounding areas. Recent accolades include the 2014 Small Business of the Year by the Manatee Chamber of Commerce; the 2015 & 2014 Best Marketing/PR Agency by SRQ Magazine readers; and the 2010 Frank G. Berlin, Sr. Small Business of the Year by the Greater Sarasota Chamber of Commerce. For more information on Grapevine Communications, contact Shelby Isaacson (Shelby@grapeinc.com) at 941-351-0024 or visit the website at www.grapeinc.com