- Ram sells Laguna Oaks to 3211 Semoran, LLC
- Laguna Oaks is a 360-unit garden-style apartment community in Orlando, Fla.
Orlando, Fla., May 13, 2015 – Ram Realty Services, a leading developer and real estate investment manager throughout the Southeast, has announced the sale of Laguna Oaks to 3211 Semoran, LLC.
Laguna Oaks is a 360-unit, garden-style apartment community located in southeast Orlando on South Semoran Avenue. The property enjoys easy access to downtown Orlando and the Orlando International Airport as well as waterfront views of Lake Fredrica. Laguna Oaks offers a host of unique amenities including a boat ramp, fishing pier, waterfront gazebos and picnic area, sand volleyball court, heated spa, swimming pool, and a state-of-the-art fitness center.
Ram acquired Laguna Oaks – formerly The Resort at Lake Fredrica – in December of 2012 from Waterton Residential, and immediately commenced rebranding and renovation of the aging apartments. Community enhancements comprised repainting, landscaping, new outdoor furniture, complete renovation of the clubhouse and lakeside deck, addition of a summer kitchen and business center, and the relocation of an expanded fitness center. Ram also updated 111 units with new appliances, countertops, cabinets, carpeting and modern lighting fixtures.
“Laguna Oaks allowed Ram to fully utilize our acquisitions, re-development and management resources to create a new sense of place in a well known apartment community in Orlando,” said Jennifer Stull, Ram Managing Director of Asset Management. “The neighborhood improvements along Semoran Ave., and the rebranding of the community were well timed to provide both residents and investors the greatest return on the dollars invested.”
CBRE brokered the sale.
Founded in 1978, Ram is an affiliated group of companies and partnerships that acquire, develop, manage and finance retail and residential properties in the Southeast. The group also selectively acquires debt secured by retail and residential properties. Ram is currently investing Ram Realty Partners III LP, a value-added fund targeting retail and multifamily properties in select high growth markets in the Southeast. Since 1996, the company has deployed $1.7 billion in real estate transactions. Ram is headquartered in Palm Beach Gardens, Florida and has offices in Fort Lauderdale and Tampa, Florida and Charlotte, North Carolina. For more information, visit www.ramrealestate.com.