Residential Property Developments

NJ investment group buys 2nd Orlando apartment complex for $52M

New Jersey-based RAIA Properties paid $52 million Monday for the EOS Apartments, which were built in 2015.

New Jersey-based Raia Properties Corporation expanded its Orlando-area portfolio on Monday, paying $52 million for the EOS Apartments near UCF.

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."

The pet-friendly complex has a private salon for residents and their pets.

Other amenities include a pet boutique, entertainment lounge, fitness center and "two custom designed caves with media zones."

EOS Orlando is next to a Publix-anchored shopping center at the Colonial Drive - S.R. 408 interchange.

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.

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