Robbins Property Associates Broadcasts Acquisition of Newly Constructed 280-Unit Lake Monroe Condo Group in Florida

Robbins Property Associates Announces Acquisition of Newly Constructed 280-Unit Lake Monroe Apartment Community in Florida

SANFORD, FL – Robbins Property Associates ("RPA"), a vertically integrated apartment building owner and operator, has partnered with a public insurance company to acquire Lake Monroe Apartments. The extensive NGBS Green Certified complex with 280 units was completed in 2020. The property, renamed Vue on Lake Monroe, is located in the fast growing Sanford / Lake Mary submarket in Seminole County.

The property is centrally located with easy access to Interstate 4 and SunRail, which provides access to over 20.9 million square feet of corporate office space. The area has a high proportion of healthcare, finance and education jobs including AAA, Deloitte and several hospitals.

"Sanford / Lake Mary has high growth potential and was relatively robust in 2020. We anticipate these positive trends will continue due to the resilient local labor market and continued population growth," said Neal Herman, Managing Director of Investments at RPA. "Vue at Lake Monroe strikes the right balance between high-quality interiors and amenities, and remains affordable when competing with other brand new products."

Vue on Lake Monroe is a newly built luxury apartment community directly across from the Sanford Riverwalk. The community offers scenic views of Lake Monroe, a screened resort-style saltwater pool, a state-of-the-art strength and fitness center, and electric vehicle charging. Each unit features designer furniture imported from Italy, natural pole polished stone countertops, custom hardware, high quality stainless steel appliances, and parquet floors. With historic downtown Sanford with its charming cafes, upscale restaurants and trendy bars only minutes away, Vue on Lake Monroe offers the conditions for a flawless living experience.

RPA will add the finishing touch to the interiors with modern kitchen tile backsplashes. Improvements to the communal facilities highlight improvements to the fitness center and pool, as well as the addition of a fenced-in bark park.

"Vue at Lake Monroe is well positioned to meet the growing demand from tenants who prefer the urban lifestyle and the convenience of suburban waterfront living," said Kristi King, RPA chief operating officer and principal. "We are very excited to add this community to our Orlando portfolio."

Source: Robbins Property Associates


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