Arium Grandewood

• Arium Grandewood, built in 2005, is a 306 unit multifamily community located in Orlando, Florida
• The investment was made in January 2021 with a leading Miami based owner / operator of multifamily communities
• The property was purchased as a value-add opportunity with 95% of the units marked for upgrades
• Originally underwritten for 5 years of ownership, Grandewood was opportunistically sold in September 2023, after just 2.6 years of ownership, achieving a premium to the fund’s acquisition price per unit