Berkadia facilitated the sale of Village at Lake Highland, a 320-unit apartment community in Lakeland, Florida, to National Property Management Associates, presenting a strategic investment opportunity in a growing market.

Information on the Target

Village at Lake Highland is a 320-unit multifamily community located in Lakeland, Florida, which is strategically situated along the rapidly developing I-4 corridor. This property was constructed in 2001 and spans over 37.2 acres, featuring a mix of one-, two-, and three-bedroom residences that range from 729 to 1,217 square feet. At the time of sale, the community boasted a remarkable 97 percent occupancy rate, highlighting its appeal in a competitive market.

The current ownership has made significant investments totaling over $6.8 million towards renovations and upgrades to both the interiors and exteriors. Features such as open floor plans, spacious walk-in closets, and private balconies enhance the living experience for residents. Community amenities include a resort-style swimming pool, a fitness center, and recreational facilities, making Village at Lake Highland an attractive choice for tenants.

Industry Overview

The multifamily housing market in Florida, especially in areas like Lakeland, has demonstrated robust growth and resilience. With a population that continues to increase, driven by both domestic and international migration, the demand for ren