Middleburg Communities and Stockbridge, a private equity real estate investment management firm, have acquired Indigo Champions Ridge, a 300-unit Class A multifamily community located in Davenport, Florida. As a fully integrated multifamily development, investment, construction, and management company, Middleburg will take over management, operations, and leasing responsibilities at the community.
Completed this year, Indigo Champions Ridge is made up of three 10-story residential buildings with one-, two-, and three-bedroom units. The thoughtfully designed floor plans feature designer plank flooring, high-end lighting fixtures, oversized closets, granite countertops, stainless steel appliances, full-size washer/dryers, and more. Amenities at the property include a modern clubhouse, resort-style swimming pool, a yoga lawn, and a 24-hour state-of-the-art fitness center.
Located in one of the fastest-growing Metropolitan Statistical Areas in the country, Indigo Champions Ridge provides easy access to retail, dining, and entertainment destinations and many of the region’s major employers, including Disney, Walmart, Amazon, Ford, FedEx, UPS, and CVS. “We are pleased to enter the Orlando market with the acquisition of Indigo Champions Ridge, one of the area’s premier multifamily communities,” states Chris Finlay, CEO of Middleburg Communities.
He continues, “We leveraged our proprietary data, research, and analytic platform to study the market and are very bullish on its long-term fundamentals. We look forward to utilizing our proven operating platform to unlock value for our investors and deliver an exceptional living experience for our residents.”
Adam Bieber of Bellwether Enterprise structured the joint venture between Middleburg and Stockbridge and the financing for the transaction, provided by Synovus Bank, while Berkadia arranged the sale.