Starlight U.S. Multifamily pays $75.3M for Kissimmee apartment complex

DCIM\100MEDIA\DJI_0025.JPG (Altman Companies)

Toronto-based real estate investment firm Starlight U.S. Multifamily paid $75.3 million just before Thanksgiving for its fifth asset in the Greater Orlando market, buying the 356-unit Altis Shingle Creek apartments in Kissimmee.

This is the firm's third acquisition of an "Altis" branded property. All were built and sold by The Altman Companies, a Boca Raton-based developer of high-end apartment communities. The $211,517 price per unit reflects a 5.5-percent increase since the company bought Altis Sand Lake a little over a year ago.


Altman paid $3.7 million in 2016 for the 27-acre site on Osceola Parkway, just east of Storey Lake Resort and Sunrise City Center.

Learn more about this Toronto-based CRE investor, and what the seller is looking to buy next in Greater Orlando.

A typical Altis property includes luxury finishes, such as stainless steel applicances and quartz counters in the kitchen, marble bath vanities with vessel sinks. Each unit has a garage and private entrance.


The Shingle Creek community includes a dog park and pet salon, electric car charging stations and a salt water, heated pool with spa, private cabanas, oversize day-beds & Wi-Fi and an outdoor kitchen with grilling station and pizza oven.

Learn what a Boca Raton-based developer has planned after buying 27 acres last week, and what group has land under contract at Intram's Sunrise City project. 

Starlight U.S. Multifamily buys, owns and operates apartment properties through public, private and institutional vehicles, with a portfolio of more than 12,000 apartment units across the southern United States.

The company has $3 billion in assets under management among its 35 properties, including eight in Florida.

The company is a division of Toronto-based Starlight Investments, a full-service real estate investment and asset management firm that manages $7.5 billion in multifamiliy and commercial properties for joint venture partnerships with institutional investors, private investors and REITs.

Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407) 420-6261, or tweet me at @LKinslerOGrowth. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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