New York firm buys Lakeland apartments

The Village at Lake Highland, a Polk County apartment complex, has sold to a New York investor.

The 320-unit community just off U.S. Highway 98 was bought by National Property Management Associates out of Orchard Park. The sale price was not disclosed, and property records have not been updated.

Chicago-based Providence Real Estate is the previous owner. It paid $51.6 million for it in 2019 according to Polk County records.

Village at Lake Highland was built in 2001 and was 97% leased at the time of sale, according to Berkadia, which represented Providence in the deal.

The community sits on 37.2 acres and is made up of 16 two- and three-story buildings. Units in the community range from one bedrooms starting at 729 square feet to three bedrooms at 1,217 square feet.

Berkadia’s Cole Whitaker, Jason Stanton and Mary Beale represented Providence.