Reserve at Lake Irene
A Class B+ asset located in Orlando—one of the fastest growing cities in terms of population, job, and economic growth.
We acquired The Reserve at Lake Irene in an off-market transaction alongside our joint-venture partner whose key principals have operated in the Orlando market for more than 20 years. Orlando continues to represent one of the fastest growing cities in terms of population, job, and economic growth.
The Reserve at Lake Irene’s repositioning to a Class B+ asset (from B) involved site improvements and “light” interior renovations, which was directed towards enhancing its tenant’s living experience. The acquisition of The Reserve at Lake Irene is consistent with Spoke’s strategy to partner with best-in-class operators who target investments located in geographic areas that exhibit strong population and economic growth. The asset is currently paying quarterly distributions that equate to annual 9% cash-on-cash return.