CELEBRATION, FL – Versity Investments has acquired Astoria, a 2015 multi-family home in Celebration, Florida. According to Blake Wettengel, CEO of Versity, the property is the company's first apartment building and is currently 97.1% rented. Astoria was offered as a 1031 exchange with a Delaware Statutory Trust (DST) structure.
"We're excited about our latest Astoria DST offering in the famous Florida city of Celebration," said Wettengel. “In addition to being a beautiful property with a vintage Art Deco motif, its location and proximity to work, entertainment and healthcare can help keep this project healthy for years to come, with significant growth potential Florida real estate is at an all-time high, and with unprecedented increases in raw material costs and construction wages, rents have the potential to keep rising for the foreseeable future. In short, we believe we have positioned investors for more investors, excellent investment. "
The property, which sits on 14.41 acres, is comprised of one-, two-, and three-story residential buildings with one-, two-, and three-bedroom units that offer resort-style amenities. The city of Celebration is located near major highways and several major tourist attractions such as Disneyworld, Sea World and Universal Studios.
Source: Versity investments