Praedium, Affirmative acquire Orlando property

Complex dates back to 1980s

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

The Praedium Group LLC entered a joint venture with New York City-based Affirmative Equities to purchase Camden Fountains, a 552-unit apartment complex in Orlando, Fla. The value of the transaction was $23.8 million. The garden-style property, located at 5175 Cinderlane Parkway, was built from 1984-1986. The property includes two pools, two tennis courts and racquetball courts. At the time of purchase, the property was 93 percent occupied. Affirmative Equities Company is a full service real estate investment and development firm specializing in multifamily and senior housing opportunities on the East Coast. The Praedium Group is a New York City-based real estate investor focusing on under-performing and under-valued assets throughout North America. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....