Sarasota-Based Insula Companies Acquires Two Central Florida Apartment Communities
Acquisitions Mark Firm’s 14th and 15th in Florida Since 2009
SARASOTA, Fla. – October 23, 2014 – Insula Companies – a Sarasota-based firm specializing in apartment community acquisition and revitalization on behalf of investors – announces two recent acquisitions to its portfolio of apartment communities. With the $10.3 million purchase of Woodlake Gardens in Lakeland, Florida, and the $13.25 million purchase of Belleza in Kissimmee, Florida, the firm has marked its 14th and 15th acquisitions since entering the local Florida market in 2009. “We are proud to add Woodlake Gardens and Belleza to our family of communities on behalf of our investors,” said Fred Cochran, President of Insula Companies. “Through these recent acquisitions, we continue to build on our positive record of bringing value through effective management services, widespread improvements and high occupancy rates.”
Located at 1475 Woodlake Drive in Lakeland, Florida, Woodlake Gardens was built in 1975 on 12 lakeside acres and features 188 units with more than 215,000 rental square feet. Insula has planned $1 million in renovations, which includes a new community clubhouse. Thoroughly renovated in 2008, Belleza is located at 1365 W. Donegan Avenue in Kissimmee, Florida, across the street from The Valencian, another Insula property. Belleza was built in 1975 and features 176 rentable units.
With properties in Georgia as well as Orlando, Tampa, Jacksonville, Lakeland and throughout Southwest Florida, Insula Companies pursues only the communities considered to have the best future value for investors. Among the criteria to qualify for acquisition, an apartment community must be a class B or C property with a minimum of 150 units, 15 to 40 years old, present value-added potential through cosmetic or substantial rehabilitation work, and have market-related and/or management induced challenges.
Visit www.insulacompanies.com/ for more information.
About Insula Companies
Since 2009, Insula Companies have recognized the potential for apartment community acquisition and revitalization and provided investors with a portfolio of more than 3,300 units and $200 million in assets in Florida-based complexes. With regional offices serving multiple major Florida markets, the firm has developed an unparalleled understanding of the communities acquired and their future promise for enhancement and return. For more information, visit InsulaCompanies.com or call 941.960.7000.
Grapevine Communications provides full-service advertising, marketing and public relations services to clients nationwide. The firm is the most award-winning advertising agency in Sarasota, Florida, and the surrounding areas. For more information on Grapevine Communications, contact Shaunna Norris (SNorris@grapeinc.com) at 941-351-0024 or visit the website at www.grapeinc.com.
Insula Woodlake Photo Caption:
Insula Companies’ Lakeland, Fla. Woodlake Gardens apartment community; main courtyard.
Insula Belleza Photo Caption:
Insula Companies’ Kissimmee Fla. Belleza apartment community.
Insula Fred Cochran Photo Caption:
President of Insula Companies, Fred Cochran.