TH Real Estate, an affiliate of Nuveen (the investment manager of TIAA), has acquired 3851 Grandpine Way, Sole at Casselberry, a 336-unit multifamily asset in Casselberry, FL.
Constructed in 2017, Sole at Casselberry offers state-of-the-art amenities with top of the market interior finishes accompanied with 12,000 sq ft of outdoor space and private fitness center. Three miles east of Interstate 4 and approximately 10 miles north from downtown Orlando, the asset provides tenants with close proximity to retail and entertainment hubs and employment centers.
“This asset is a Class A garden style product, near fully occupied, in a high barrier to entry market with access to major employment centers such as Altamonte Springs, Maitland, Winter Park and Lake Mary,” said Carlos Burneo, Director at TH Real Estate and lead for multifamily in Florida. “Orlando’s continuous employment and population growth is a clear match to TH Real Estate’s Cities of Tomorrow investment strategy.”
TH Real Estate’s Global Cities strategy considers commercial real estate opportunities through the context of global “megatrends” such as urbanization, the rising affluence of middle classes, an ageing population in developed markets, and rapid technological change. Cities such as Orlando stand to benefit from these megatrends by offering innovation, economic growth and cultural appeal.
TH Real Estate manages approximately $10bn of multifamily housing assets globally, focusing on rental housing investments in demand-driven markets. TH Real Estate's US multifamily housing investment platform serves numerous funds and mandates and has 32,000 units in urban luxury, workforce and student housing assets under management.
About TH Real Estate
TH Real Estate, an affiliate of Nuveen (the investment management arm of TIAA), is one of the largest real estate investment managers in the world with $109bn in AUM. Managing a suite of funds and mandates spanning both debt and equity across diverse geographies, sectors, investment styles and vehicle types, we provide access to every aspect of real estate investing. With over 80 years of investing experience, and more than 530 real estate professionals located across 22 cities throughout the US, Europe and Asia-Pacific, the platform offers unparalleled geographic reach, which is married with deep sector expertise.
Our investment, asset management and corporate strategies grow from a deep understanding of the structural trends that we believe will shape the future of real estate and responsible investing beyond market cycles. This ‘Tomorrow’s World’ approach sits at the core of our investment process and business operations, informing our long-term view of real estate investments for the enduring benefit of both clients and society.
