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Post Properties Closes on Acquisition of Crosswater at Lakeside Village

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Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate
investment trust, today announced the closing of its acquisition of
Crosswater at Lakeside Village, located in the affluent Windermere
submarket of Orlando, Florida. The 300-unit community, which has been
renamed Post Lakesideā„¢, was recently completed in 2013, and is in the
late stages of its initial lease-up (currently 86 percent leased). The
community has units averaging 1,070 square feet, with resort-style
amenities oriented to maximize the impact of the lake and associated
conservation area. The community is also located adjacent to a recently
developed Publix-anchored shopping center, providing walkable retail
amenities to residents.

The purchase price of the community was $48.5 million, and was paid out

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Posted-In: News Guidance Contracts Management M&A Global

 

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