VIENNA, Va. And LONDON – September 21, 2022 – Middleburg Communities (“Middleburg”), and SFO Capital Partners, a London-based global real estate investor and investment manager, today announced they have jointly acquired The Baldwin, a newly-built, 270-unit Class A multifamily community located 10 minutes from downtown Orlando and Central Florida’s STEM corridor.
The Baldwin represents the second newly-built, Class A residential community that Middleburg has acquired in Central Florida since July 2022, and follows SFO Capital Partners’ recent acquisition of 388 apartment units in Atlanta. Middleburg also purchased the 330-unit Indigo Champions Ridge in Davenport, which sits just minutes from several popular retail, dining and entertainment destinations and many of the region’s major employers. Middleburg’s investment activity in Central Florida also includes the development of Mosby Citrus Ride, a 300-unit lifestyle-oriented, attainable housing community in Davenport, announced in August.
“We are pleased to continue expanding our presence in fundamentally strong and vibrant communities in Central Florida with the acquisition of The Baldwin,” said Chris Finlay, CEO of Middleburg Communities. “Given the area’s continued growth and population inflows, there is a significant need for the high-quality, attainable housing communities we have acquired or are developing. We look forward to continuing our pattern of generating high double-digit returns for our investors with these investments and leveraging our industry-leading, vertically-integrated platform to deliver superior living experiences for our residents.”
Finlay added, “It’s an honor to be partnering with SFO Capital Partners on this acquisition. Like us, SFO Capital Partners possesses strong institutional knowledge of the multifamily industry and has an extensive track record of producing above-average returns for its investors. We plan to further expand this partnership by jointly pursuing additional value-add opportunities throughout the southeast and sunbelt.”
Mohamad Abouchalbak, CEO of SFO Capital Partners, said, “We are thrilled to partner with Middleburg on this compelling and defensive acquisition in Orlando, a metro with robust macroeconomic fundamentals, favorable demographics and a clear growth outlook. This latest acquisition supports our strong conviction in the U.S. multifamily sector and align with our strategy of acquiring stable, highly occupied brand-new assets benefiting from the strong and rising rental market. We are looking forward to growing our successful partnership with Middleburg.”
The Baldwin, which opened last month, offers a state-of-the-art living environment within walking distance of many of Orlando’s business and leisure generators, including the region’s premier employment and education corridor. The community is ideally located adjacent to the upscale and affluent Baldwin Park neighborhood and centrally positioned between Interstate 4, State Route 408 and 417, making it just a 20-minute drive from more than 449,000 jobs.
The attainable residential community, which comprises nine, three-story residential building situated on approximately 10.5 acres, offers multiple 1-, 2- and 3-bedroom floorplans complete with modern and upscale fixtures including gourmet kitchens, designer-plank flooring and wireless thermostats and lighting controls. The Baldwin also features numerous resort-style amenities, such as a swimming pool with pavilion, 24-hour fitness center, clubhouse, co-working station, dog park with pet spa, Amazon hub package center, EV charging stations and more.
About Middleburg Communities:
Middleburg Communities is a fully integrated multifamily development, investment, construction and management company operating in the southeastern and mid-Atlantic United States. Since 2004, Middleburg has acquired and developed more than 22,000 apartment units, executing over $3 billion in transactions. The Middleburg team shares a vision for greater value creation through community impact. The firm’s success is rooted in a genuine desire to serve its local communities in thoughtful and holistic ways. Middleburg embraces people, property, and partnerships to enhance the lives of others, contribute positively to its neighborhoods and maximize real returns for partners. For more information, please visit www.MiddleburgCommunities.com.
About SFO Capital Partners
SFO Capital Partners, a London-based global real estate investor and investment manager, is committed to achieving superior risk-adjusted returns and focused on establishing and maintaining long-term relationships with its global clients and partners. SFO Capital Partners applies its global mindset, in-depth sector experience and local knowledge to unlock international real estate investment projects in Europe and the USA across a selected range of investment strategies including income-generating, value-add and development schemes. As of September 2022, SFO Capital Partners has acquired a diversified portfolio comprising more than $2.0 billion in assets located primarily in the USA and Europe, including 7,500 apartments and more than 9 million square feet of commercial real estate under management.
SFO Capital Partners
Executive Director, Investor Relations