VENTERRA REALTY ACQUIRES ORANGE PARK MULTI-FAMILY COMMUNITY

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Dec 17, 2021, 14:05 ET

Venterra Realty acquires 512-unit multifamily community in Orange Park, FL

JACKSONVILLE, Fla., Dec. 17, 2021 /PRNewswire/ -- Venterra Realty has purchased The Villages at Oakleaf, a 512-unit, garden-style multifamily, located within the Oakleaf Plantation master-planned community and consisting of Gemstone, Fieldstone, Cobblestone, and Village at Oakleaf Plantation in suburban Jacksonville, Florida.

The Villages at Oakleaf was built in five different phases between 2008 and 2018. It is the only apartment community in Oakleaf Plantation, giving it unique access to the centralized multi-million-dollar community recreational amenity center, which includes swimming pools, a water park, picnic areas, sports fields, tennis courts, basketball courts, and indoor fitness centers. Floorplans, photos, and pricing can be found on the property's website.

Located in Clay County, an area known to have a superior school system, the community provides a desirable living choice for families. With the presence of large unit sizes and many floorplans offering 3- and 4- bedroom options, as well as many kid-friendly amenities including a playground, The Villages at Oakleaf can provide families with an exceptional living experience. All three schools to which The Villages at Oakleaf are zoned are highly rated and within walking distance.

"We are pleased to announce the acquisition of these premier assets and add another high-quality property to our Florida portfolio," said John Foresi, Venterra CEO. "Demand for family-centric rental options is strong in today's housing market. The Villages at Oakleaf stood out to our acquisition team due to its extensive amenity package across the property sure to appeal to all types of renters, with families at the forefront."

Jacksonville was ranked as the fastest-growing Florida city by the U.S. Census Bureau in 2020, ranking 9^th in the country in terms of highest in-migration in the U.S. Before the pandemic, Jacksonville averaged 2.6% annual job growth between 2011 and 2019, compared to the U.S. average of 1.7% for the same period. The Jacksonville MSA is one of only a handful of major markets in the country that has recovered all jobs lost during the pandemic.

"Jacksonville's booming population and demand was a key driver in this acquisition," said Venterra Chairman, Andrew Stewart. "We look forward to optimizing the operations at this community, creating value for our investors, and providing an exceptional living experience for residents of Jacksonville."

Venterra will implement its resident-focused programs such as the Live it. Love it. Guarantee.^™, the 48-Hour Maintenance Guarantee, SMARTHUB, as well as their overall commitment to providing a world-class living experience for which Venterra has become known.

About Venterra:

Founded in 2001, Venterra Realty owns and manages approximately 70 communities and more than 20,000 apartment units across 13 major US cities that provide housing to over 40,000 people and 12,000 pets. The organization has completed $7.2 billion in real estate transactions and currently manages a portfolio of multi-family real estate assets valued at approximately $4.0 billion. Venterra is committed to improving the lives of its residents by delivering industry-leading customer experience. Find out more about Venterra Realty and its award-winning company culture at Venterra.com.

Contact: Dror Goldberg, Executive Vice President of Acquisitions
[email protected]
281.822.9464

SOURCE Venterra Realty