A joint venture between The Praedium Group LLC and Affirmative Equities Company L.P. has sold a 552-unit apartment property in Orlando, Fla., after adding recent upgrades.
The owners sold the Fountains at Lake Orlando community for $34.3 million to an unidentified buyer.
Completed in 1986, the garden-style property is located in the Rosemont section of northwest Orlando.
Praedium and Affirmative Equities originally acquired the property in December 2004. Since that time, the partnership executed a $3.2 million renovation at the property, which included a new metal railing system, new siding, W/D hookups added to select units, and new stainless-steel appliance installations and bathroom fixture upgrades.