GAINESVILLE, FL – Excelsa Holding's US real estate investment arm Excelsa Properties has sold a five-property multifamily portfolio in Gainesville, FL for $89.5 million. The firm originally purchased the 582-unit asset in August 2018 for $42.6 million, before implementing a comprehensive value-add program at the property.
The Archer Road portfolio represented the first acquisition made by Excelsa Properties' maiden multifamily fund, Excelsa US Real Estate I LP (EUSRE I).
The recent sale of the portfolio represents Excelsa Properties' second exit from EUSRE I. The firm previously sold the Bend at Oak Forest apartment community in Houston, TX in July.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
