According to a report by the Orlando Sentinel, Atlanta-based company Preferred Apartment Communities Inc. has purchased 528 apartment units on the shore of Lake Baldwin [GMap].

The Village (Website) was erected in 2008 and is currently 98 percent occupied. The company has stated that they will be spending over $5 M on improvements to the complex.

The apartments sold for $110.7 M.

Brendan O'Connor

Editor in Chief of Bungalower.com

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