Crescent Sky Real Estate Partners has announced the purchase of the Villas at Aston Square and the Villas at High Springs, a 17 building multifamily portfolio located in Gainesville.
The acquired properties are located near the University of Florida campus, the state’s largest University. According to 2018 census estimates, the Gainesville MSA population has grown 7.6% since 2010. This rapid population growth has helped to boost market occupancy rates to approximately 98% for the area.
Commenting on the acquisition, Charles Spero, Managing Partner at Crescent Sky, said, “We are thrilled to be expanding our real estate business, particularly in the Southeast housing market.”
Mr. Spero continued, “This acquisition aligns with our strategy of investing in growth markets which we believe will result in accretive long-term returns for our investors. We look forward to identifying additional opportunities to add to our portfolio in this region as well as other growing areas.”