Atlanta company buys Deerwood Village apartments for $34 million - News - Ocala.com
Tenants can expect renovations — as well as increased rents.
By Richard AnguianoBusiness editor
An Atlanta real estate investment and management company has bought Deerwood Village apartments for $34.15 million and tenants can expect renovations — as well as increased rents. Cortland Partners had been interested in the complex because of the company’s “regional footprint” with properties in Jacksonville, Gainesville, Orlando and Clermont, according to John Builder III , the company’s director of investments in Florida. “The ‘big-house’ design is a market differentiator that Cortland was interested in and after completing due diligence in Ocala, we discovered a lot to like about the market as a whole,” Builder wrote in an e-mail, adding that company officials were sold on the area’s “ great job drivers ” and low cost of living. Deerwood Villages is a 328- unit complex built in 2006 on 40 acres at 1850 SE 18th Ave . and features garden-style, or what the company calls “...