The Class A midrise complex was built in 2015 by the seller, Atlanta-based Catalyst Development Partners. It sits on 12.75 acres just northwest of the Colonial Drive/ S.R.408 interchange.
Humphreys & Partners designed the 296-unit complex, which is built around four distinct courtyards featuring a resort style pool, hammock haven, grilling station or "zen garden."
Other amenities include a pet boutique, entertainment lounge, fitness center and "two custom designed caves with media zones."
It's Raia's second Orlando-market acquisition. The family-owned company last year purchased the Casa Mirella apartments in Windermere for $50 million.
Raia divided the ownership among three of its Florida-based investment funds and borrowed $33.8 million from Insurance Stategy Funding Corp. LLC, a subsidiary of J.P. Morgan Asset Management.