1/1/2024 0 Comments Western finance gallatin tnPENLER is building a similar 288-unit luxury apartment community in Clermont, an affluent west Orlando, Fla. The luxury development represents PENLER’s mission to create multifamily communities in high-quality locations and sought-after submarkets, added PENLER Managing Partner Graham Carpenter. The Parkstone is a community featuring apartments with direct private entry, creating a townhome feel that blends the amenity-laden community with the high-end residential housing nearby. “We are delighted to have closed this deal with a firm that represents quality, thoughtful development.” “This acquisition is a perfect addition to our growing portfolio of luxury apartments in upscale communities across the country,” said Chris Taylor, Director of Finance for Weinstein Properties. The buyer, Weinstein Properties, based in Richmond, Va., owns 20,000 units in 14 cities and five states. We greatly appreciate all those we have partnered with.” “This is an exciting time for our growing firm. “Given the supply chain challenges and rising construction costs, we are pleased to once again deliver a uniquely designed, upscale community under budget and ahead of schedule,” said PENLER Managing Partner Brian Metzler. PENLER closed on the 16.5-acre property in July of 2020, developed the luxury apartment community with a two-story direct private entry design, welcomed its first residents in January of this year and sold the project fully leased on June 15. PENLER built, leased, and sold The Parkstone luxury community in less than two years, selling to Richmond, Va.-based Weinstein PropertiesĪtlanta (June 2022) – PENLER, an Atlanta-based multifamily real estate investment platform, recently closed on the sale of The Parkstone, its second luxury apartment community, a unique 240-unit, townhome-style community in the upscale Nashville, Tennessee suburb of Gallatin.
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