Sarasota-based Insula Cos., which has specialized in buying and revitalizing apartment communities since 2009, recently surpassed a major milestone with $100 million in property acquisitions in one year.
The firm passed the $100 million mark with the recent purchase of Calibre Bend Apartments in Winter Park. The complex is the 26th property the firm has acquired in the past seven years, according to a statement. “Our team is proud to have consistently built upon successes to have reached this significant point for our company,” Insula President Fred Cochran says in the statement.
The firm bought the 212- unit Calibre Bend complex for $29 million in a deal that closed Oct. 7, according to the statement. Insula plans a $1.5 million makeover for the complex, which is next to Full Sail University and close to the University of Central Florida.
Insula overall has bought and sold properties in Tampa Bay, Orlando, Lakeland and throughout Southwest Florida. It has provided investors with a portfolio of more than 5,000 units and $450 million in multifamily assets since 2009.