ORLANDOMULTIFAMILY
RENTAL TRENDSSUPPLY/DEMANDEMPLOYMENT ANALYTICS
MARCH 2021
SUPPLY
RENTAL TRENDS
DEMAND
Employment Sector Current Share YOY Change
Information 1.9% -1,600 -5.7%
Mining, Logging and Construction 7.2% -1,700 -1.7%
Manufacturing 5.4% -2,100 -2.7%
Financial Activities 6.1% -3,600 -4.0%
Government 11.0% -4,700 -3.0%
Other Services 3.4% -6,400 -11.8%
Education and Health Services 13.7% -11,300 -5.6%
Trade, Transportation, and Utilities 18.9% -14,400 -5.1%
Professional and Business Services 17.9% -23,500 -8.6%
Leisure and Hospitality 14.5% -106,100 -34.3%
National RankingOut of 98 Markets 81Rent
Growth [+4] 90 EmploymentGrowth [-10] 22 Completions
[-5]
Inventory by Property Status# of Properties
928Completed
229,033 Units
79Under Construction
20,528 Units
83Planned
24,583 Units
196Prospective
60,372 Units
ORLANDO MULTIFAMILY MARCH 2021
1
HIGHEST OVERALL PERFORMING SUBMARKETS LOWEST OVERALL PERFORMING SUBMARKETS
Submarket Rent Occupancy YOY Change
Orlando - Holden Heights $1,124 88.3% 7.1%
Fish Lake $1,242 97.6% 5.7%
Leesburg $1,081 97.7% 5.6%
Sanford $1,243 95.2% 4.5%
Titusville $985 95.9% 4.3%
Submarket Rent Occupancy YOY Change
Apopka $1,339 94.7% -3.0%
Lake Bryan $1,463 95.1% -3.8%
Orlando - Florida Center North $1,235 96.2% -4.0%
Orlando - Edgewood $1,272 90.5% -4.8%
Orlando - North Orange $1,872 91.7% -9.4%
HIGHEST PERFORMING SUBMARKET - ORLANDO - HOLDEN HEIGHTS
SUBMARKETS YEAR-OVER-YEAR RENT GROWTH
Properties 4
Units 417
Average Rent/Unit $1,124
Effective YOY Chg 7.1%
RENTAL RATE CHANGE BY SUBMARKET MARCH 2021
2
LIFESTYLE APARTMENTS - YEAR-OVER-YEAR RENT GROWTH RENTERS-BY-NECESSITY APARTMENTS - YEAR-OVER-YEAR RENT GROWTH
HIGHEST PERFORMING SUBMARKETS - LIFESTYLE HIGHEST PERFORMING SUBMARKETS - RBN
Submarket Rent Occupancy YOY Change
Longwood $1,494 94.8% 6.9%
Leesburg $1,163 97.9% 5.2%
Fish Lake $1,360 97.5% 4.7%
Sanford $1,356 95.3% 4.1%
Altamonte Springs $1,445 94% 3.1%
Submarket Rent Occupancy YOY Change
Winter Garden $1,235 94.5% 7.7%
Orlando - Holden Heights $1,111 88.3% 7.1%
Leesburg $907 97.2% 6.8%
Titusville $857 95.6% 5.9%
Sanford $1,114 95% 5.3%
LOWEST PERFORMING SUBMARKETS - LIFESTYLE LOWEST PERFORMING SUBMARKETS - RBN
Submarket Rent Occupancy YOY Change
Winter Park - East $1,315 93.4% -3.7%
Orange Lake $1,538 84.6% -3.8%
Apopka $1,362 93.8% -4.3%
Orlando - Edgewood $1,410 89.9% -4.9%
Orlando - North Orange $1,953 91.3% -10.2%
Submarket Rent Occupancy YOY Change
Lake Mary $1,186 94% -4.3%
Metro West $1,092 95.7% -4.4%
Orlando - Florida Center North $1,105 94.8% -5.4%
Lake Bryan $1,226 95.2% -5.5%
Longwood $1,102 93.3% -7.2%
LONGWOOD WINTER GARDEN
Lifestyle RBN Overall
Properties 6 5 11
Units 1,345 1,266 2,611
Avg Rent/Unit $1,494 $1,102 $1,304
Effective YOY Chg 6.9% -7.2% 0.7%
RBN Lifestyle Overall
Properties 4 2 6
Units 385 476 861
Avg Rent/Unit $1,235 $1,521 $1,393
Effective YOY Chg 7.7% 1.6% 4.0%
RENTAL RATE CHANGE BY SUBMARKET AND ASSET QUALITY MARCH 2021
3
OVERALL DEVELOPMENT ACTIVITY
PROJECTED COMPLETIONS AS % OF PRIOR INVENTORY - 12 MONTHS ENDING FEBRUARY 2022Submarket Growth # Units
Orlando - North Orange 131.9% 1,128
Winter Garden 48.9% 740
Woodruff Springs 41.4% 608
Orlando - Florida Center 26.7% 344
Celebration 25.2% 1,449
Apopka 21.9% 285
Orlando - Pine Hills 21.4% 307
Orange Lake 20.4% 692
Orlando - Downtown 17.3% 1,117
Lake Buena Vista 14.4% 1,066
Lake Mary 14.3% 566
+ 24 More Submarkets 8,475
Market Overall 6.9%16,777 Units
National RankingOut of 98 Markets
20,528 Units
8Lifestyle [+1]
19,733 Units
42Renters-by-Necessity [-2]
795 Units
12Overall [+1]
SUPPLY MARCH 2021
TOP DEVELOPERS BY UNITS UNDER CONSTRUCTIONLARGEST COMMUNITIES UNDER CONSTRUCTIONDeveloper # Units # Props
Wood Partners 1,086 4
ContraVest 933 3
Fore Property Company 736 2
Jefferson Apartment Group 648 2
Integra Land Company 648 2
Real Estate Inverlad 591 1
Greystar 552 2
Northwood Ravin 465 1
PMG 464 2
Epoch Residential 448 2
Project Address # Units Developer
Yard at Ivanhoe, The 1460 Alden Road Orlando, FL 32803
591 Real Estate Inverlad
Sunrise City Drive I & II North Poinciana Blvd & Sunrise Blvd Kissimmee, FL 34746
465 Northwood Ravin
West Vue 6003 Raleigh Street Orlando, FL 32835
442 RISE Real Estate
Radius 108 East Livingston Orlando, FL 32801
389 Banner Real Estate Group
Jefferson Lake Howell 1124 Shoreview Circle Casselberry, FL 32707
384 Jefferson Apartment Group
4
LIFESTYLE DEVELOPMENT ACTIVITY RENTERS-BY-NECESSITY DEVELOPMENT ACTIVITY
PROJECTED RBN COMPLETIONS AS % OF INVENTORYPROJECTED LIFESTYLE COMPLETIONS AS % OF INVENTORY
Submarket Growth # Units
Winter Garden 155.5% 740
Orlando - North Orange 147.8% 1,128
Apopka 47.5% 285
Palm Bay 43.4% 476
Woodruff Springs 41.4% 608
Mt Dora 40.0% 208
Titusville 37.7% 186
Orlando - Florida Center 31.0% 344
Orange Lake 28.8% 692
Celebration 28.6% 1,449
Fish Lake 25.8% 292
+ 20 More Submarkets 9,083
Market Overall 12.4%15,491 Units
Submarket Growth # Units
Mt Dora 5.6% 110
Orlando - Rosemont 3.4% 216
Fish Lake 3.4% 80
Melbourne 1.7% 145
Oak Ridge 1.4% 110
Sanford 1.4% 68
Clermont N/A 70
Market Overall 0.7%799 Units
SUPPLY MARCH 2021
5
EMPLOYMENT COMPOSITION BY INDUSTRY SECTOR
EMPLOYMENT GROWTH TREND FOR TOTAL NON-FARM AND TWO LARGEST INDUSTRY SECTORS
EARNINGS GROWTH TREND VS NATIONAL
Employment National YOY Change 5-Year ChangeEmployment Sector Jobs % Share Rank Jobs Pct. Jobs Pct.
Trade, Transportation, and Utilities 266K 18.9% 28 -14.4K -5.1% 6.0K 2.3%
Professional and Business Services 251K 17.9% 26 -23.5K -8.6% 21.0K 9.1%
Leisure and Hospitality 203K 14.5% 13 -106.1K -34.3% -69.7K -25.5%
Education and Health Services 192K 13.7% 34 -11.3K -5.6% 10.6K 5.8%
Government 155K 11.0% 39 -4.7K -3.0% 2.7K 1.8%
Mining, Logging and Construction 101K 7.2% 21 -1.7K -1.7% 23.5K 30.4%
Financial Activities 86K 6.1% 31 -3.6K -4.0% 5.4K 6.7%
Manufacturing 76K 5.4% 47 -2.1K -2.7% 13.3K 21.1%
Other Services 48K 3.4% 27 -6.4K -11.8% -4.4K -8.4%
Information 27K 1.9% 26 -1.6K -5.7% 0.3K 1.1%
Total Non-Farm 1404K 100.0% 27 -175.4K -11.1% 8.7K 0.6%
EMPLOYMENT AND EARNINGS MARCH 2021
6
Prior 12 Months
32Sale Price [-4]
$175,195Average Price/Unit
12Sale Velocity [+2]
44Properties Sold
13Sale Volume [-1]
$1,777MMTotal Sales
National RankingOut of 98 Markets
MOST ACTIVE SUBMARKETS BY TRANSACTION VOLUME
SALE TRENDS
MOST ACTIVE BUYERS BY # PROPERTIES PURCHASED MOST ACTIVE SELLERS BY # PROPERTIES SOLD
Lifestyle RBN
# Properties 19 25
Total $MM $1,077 $700
Avg $/Unit $210,045 $139,587
Company # Units $MM
LivCor 4 1,140 $251.7
Dasmen Residential 4 759 $79.2
Priderock Capital Partners 2 728 $147.4
Electra America 2 656 $100.0
ConAm 2 440 $94.2
Tokarski, Christopher D. 2 274 $42.0
Harbor Group International 2 203 $20.6
Preferred Apartment Communities 1 281 $62.2
Company # Units $MM
Abacus Capital Group 3 594 $90.5
Amzak Capital Management 3 570 $61.2
JRK Property Holdings 2 774 $163.0
TruAmerica Multifamily 2 708 $134.0
RADCO Companies 2 624 $105.8
Catalyst Development Partners 2 577 $128.2
Varia US Properties 2 203 $20.6
AG Spanos Companies 1 280 $55.3
Submarket # Units $MM
Melbourne 5 936 $183.7
Metro West 3 778 $179.2
Hunter's Creek 2 802 $169.8
Winter Park - East 4 859 $145.3
Sanford 4 1,032 $140.2
Red Bug Lake 2 812 $139.0
University Park 2 524 $129.4
Lake Buena Vista 2 556 $109.7
Fish Lake 1 315 $70.8
Stoneybrook 1 348 $69.0
+ 14 More Submarkets 18 3,181 $441.0
Total 44 10,143 $1,777.0
$87,500,000476 UnitsBuyer: Residential Management
Sale Date: 03/17/2021
Newport Colony
HIGHEST PRICED PREV. 3 MONTHS
TRANSACTION ACTIVITY MARCH 2021
7
COVERAGE
Yardi® Matrix reports on multi-family properties of 50+ units in size.
This report for the Orlando metro area covers Counties: Brevard, Lake, Orange, Osceola and Seminole
Rental rate coverage is for Market Rate properties only. Fully Affordable properties are not included in our rental surveys and are not reported in rental rate averages.
GENERAL DEFINITIONS
Asset Class – refers to a generalized category of properties grouped by their Yardi® Matrix improvements rating
Lifestyle Asset Class – a grouping of all of the highest rated market rate properties A+, A, A- and B+
Renters-by-Necessity (RBN) Asset Class – a grouping of all of the lowest rated properties B, B-, C+, C, C- and D
Year-over-Year Change – percentage growth from last year, for several months or quarters in a time-series. This analysis will highlight an overall direction of movement for a metro.
An upward slope means an accelerating growth. A downward slope means a slowing growth. Above the line (zero) for increases, below the line for loss.
Rankings – this metro is ranked nationally among other Yardi Matrix reported metros based on a single measure. For details on any specific ranking, see section descriptions below
COMMONLY USED CALCULATIONS
DATA SOURCES
Rental Rates – are collected by Yardi® Matrix phone surveyors three times annually for 95%+ of property and unit configurations. Additionally, a representative sample of the market (between 10% and 20%) are surveyed monthly.
Occupancy Rates – are derived from U.S. Postal Service data and Yardi® Matrix phone surveys
Development Activity – information is tracked by Yardi® Matrix researchers. Construction projects are discovered through various publications and local government sources. Projects are tracked on a monthly basis. Completion dates and lease-up information are confirmed by phone calls to properties under construction.
Employment – data is sourced from the U.S. Bureau of Labor Statistics. Reported employment is generally two months behind the current date for this report.
Transaction Activity – information is tracked by Yardi® Matrix researchers. Sales are discovered through various publications and local government sources, and updates are made continuously.
Rent Growth Ranking – based on rent growth over the past year, current month.
Employment Growth Ranking – based on employment growth over the past year, latest employment month.
Completions Ranking – based on inventory growth over the past year, current month.
MARKET OVERVIEW
Calculations – total employment size (jobs) is expressed as a sum of employment in areas overlapping the reported market: Orlando-Kissimmee-Sanford, FL | Palm Bay-Melbourne-Titusville, FL
EMPLOYMENT AND EARNINGS
Industry Sectors – are defined by the NAICS Supersector designations. For more information visit: http://www.bls.gov/sae/saesuper.htm
Sector National Ranking – is based on the absolute size of the industry sector within this metro, when compared to the same industry in other metro areas nationally.
Earnings weekly vs hourly – differentiates hourly wage workers, from weekly salaried workers.
DEVELOPMENT ACTIVITY
Prospective Properties – announced construction projects, with no specific documents or government filings
Planned Properties – are in the planning stages of construction, with documents having been filed with the county or city
Under Construction Properties – have received permits for construction and broken ground.
Rankings – are based on the number of units currently under construction: Overall, Lifestyle and Renters-by-Necessity Asset Classifications
Projected Completions – Projected completions reported by Yardi® Matrix are limited to a year out and are based on properties currently under construction and their expected completion date.
Projected Completions as a % of Prior Inventory – This forward-looking metric uses projected unit completions to calculate a relative growth over the next year for a particular area. Submarkets with a total share of market inventory below 1% are assigned an N/A value, to avoid over-stating their significance in rankings and color-coded map displays.
Construction and Completion Counts – are reported based on property status as of the start of the month.
TRANSACTION ACTIVITY
Price – is expressed as Price/Unit as a standard measure. This is also used for national ranking
Velocity – is measured by the number of properties sold per year. This is also used for national ranking
Volume – measures the total amount of money spent in multi-family sale transactions in the prior year, expressed as millions of U.S. Dollars ($MM). This is also used for national ranking
METHODS AND DEFINITIONS MARCH 2021
8
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
ALTAMONTE SPRINGS
ORLANDO MULTIFAMILYMARCH 2021
Altamonte Springs submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
20 Properties
5,005 Units
B+ Average Location Rating
B Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
93.4%Occupancy Rate
March 2021
41st
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
0.4%Y-o-Y Change
$1,264Average Rental Rate
March 2021
27th
Rank out of 53 Submarkets
6.0%Growth in 2021 -Projected Year End
300Units built in 2021 -Projected Year End
22nd
Altamonte Springs | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 3,112 705 3.3% 1.9% 1.7% 1.9% -0.3% -1.1% -1.1% -1.9%
Two Bedrooms 3,528 1,066 2.3% 1.5% 0.9% 1.1% 2.0% 2.3% 2.2% 1.7%
Three Bedrooms 427 1,315 1.6% 1.8% 3.3% 3.2% 5.3% 4.6% 2.7% -1.6%
Other 392 529 1.8% 1.4% 1.0% 3.5% 0.0% -3.5% -2.3% 1.9%
Overall 7,459 904 2.5% 1.6% 1.3% 1.6% 1.3% 1.0% 0.9% 0.3%
Rank out of 53 Submarkets
-1.9%Y-o-Y Change
Q1 2021
34th
Rank out of 53 Submarkets
$1,109Average Rental Rate
Q1 2021
33rd
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
1.7%Y-o-Y Change
Q1 2021
18th
Rank out of 53 Submarkets
$1,391Average Rental Rate
Q1 2021
30th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
-1.6%Y-o-Y Change
Q1 2021
42nd
Rank out of 53 Submarkets
$1,678Average Rental Rate
Q1 2021
33rd
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Altamonte Springs | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 20th/40 46.95% 839
2021 18th/29 12.90% 300
2022 N/A N/A N/A
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 29th/45 18.96% 943
2021 23rd/33 5.34% 300
2022 N/A N/A N/A
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
1Property
300Units
Property Address # Units DeveloperSubmitted Date
Oxford Place Phase II & III 6405 South US Hwy 17-92, Fern Park, FL 32730 534 RD Management Corporation 07/2019
Alta Cypress 301 Dog Track Road, Longwood, FL 32750 342 Wood Partners 08/2019
Oxford Place 6405 South US Hwy 17-92, Fern Park, FL 32730 246 RD Management Corporation 07/2019
3Properties
1,122Units
PROSPECTIVE PROPERTIES 2 Properties 450 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Sanctuary at CenterPointe 486 Centerpointe Circle, Altamonte Springs, FL 32701
300 Emerson International 09/2019 04/2021 06/2020
DEVELOPMENT ACTIVITY MARCH 2021
Altamonte Springs | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
34 th Rank out of 53 Submarkets $133K Sale Price
per Unit
*partial year, ending March 2021
17 th Rank out of 53 Submarkets 1.4 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Latitude 28828 Orienta AvenueAltamonte Springs, FL 32701
354 1973 B A- Lighthouse Group, The
ResProp Management
10/2019 $47.40 $159.31 $134K $37.28
Sole at Casselberry3851 Grandpine WayCasselberry, FL 32707
336 2017 A- B- Nuveen Real Estate Bainbridge Companies
05/2018 $72.25 $217.28 $215K
Integra Lakes3160 Integra Lakes LaneCasselberry, FL 32707
203 2017 A- C+ Harbor Group International
Integra Land Company
05/2018 $39.00 $190.91 $192K 2025 $27.26
Central Park525 One Center BlvdAltamonte Springs, FL 32701
362 1992 B+ A- TruAmerica Multifamily
McDowell Properties
01/2018 $52.75 $165.86 $146K 2021 $43.39
Palms at Casselberry, The400 Sandpiper LaneCasselberry, FL 32707
196 1978 B- B- Read Property Group
Murphy, Marilyn W. 05/2017 $14.10 $78.66 $72K 2027 $12.40
Latitude 28828 Orienta AvenueAltamonte Springs, FL 32701
354 1973 B A- ResProp Management
PRG Real Estate 04/2017 $27.40 $92.09 $77K 2027 $22.41
Charter Pointe919 Ballard StreetAltamonte Springs, FL 32701
312 1973 B- C+ Goldelm Insula Properties 01/2017 $31.00 $120.16 $99K 2029 $23.02
Park at Rialto II, The2174 Sharp CourtFern Park, FL 32730
352 1971 C B- Blue Roc Premier Properties
Focus Group, The 12/2016 $25.00 $116.90 $71K
Advenir at Magnolia210 Welcome WayFern Park, FL 32730
272 1973 B- B- Advenir Investors Management Group
05/2016 $18.00 $82.72 $66K 2025 $22.15
Altamonte Springs | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
APOPKA
ORLANDO MULTIFAMILYMARCH 2021
Apopka submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
6 Properties
1,303 Units
B Average Location Rating
B Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
94.7%Occupancy Rate
March 2021
25th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
-3.0%Y-o-Y Change
$1,339Average Rental Rate
March 2021
46th
Rank out of 53 Submarkets
0.0%Growth in 2021 -Projected Year End
N/AUnits built in 2021 -Projected Year End
N/A
Apopka | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 483 667 10.1% 4.9% 3.1% 4.0% 0.2% 3.7% 4.5% 1.8%
Two Bedrooms 865 992 3.6% 2.2% 2.3% 2.6% -1.9% -3.5% -2.7% -4.1%
Three Bedrooms 250 1,165 -2.6% -1.6% 1.8% 3.6% 7.4% -0.8% -8.9% -8.7%
Overall 1,598 941 4.6% 2.5% 2.4% 3.1% -0.4% -1.3% -1.4% -2.9%
Rank out of 53 Submarkets
1.8%Y-o-Y Change
Q1 2021
10th
Rank out of 53 Submarkets
$1,195Average Rental Rate
Q1 2021
23rd
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
-4.1%Y-o-Y Change
Q1 2021
45th
Rank out of 53 Submarkets
$1,368Average Rental Rate
Q1 2021
31st
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
-8.7%Y-o-Y Change
Q1 2021
53rd
Rank out of 53 Submarkets
$1,724Average Rental Rate
Q1 2021
25th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Apopka | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 8th/40 82.93% 272
2021 N/A N/A N/A
2022 2nd/15 47.50% 285
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 14th/45 37.01% 352
2021 N/A N/A N/A
2022 2nd/18 21.87% 285
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
1Property
285Units
Property Address # Units DeveloperSubmitted Date
Apopka City Center State Route 436 & US Route North 441, Apopka, FL 32704
250 Taurus Investment Holdings 06/2018
Ascend Oak Pointe 2901 Ocoee Apopka Road, Apopka, FL 32703 240 Thompson Hills Estates 11/2020
Marden Ridge Phase II 1595 Marden Ridge Loop, Apopka, FL 32703 228 NM Residential 02/2019
Monarchs at Lake Pleasant 1711 Apopka Blvd, Apopka, FL 32703 126 12/2019
+ 1 More Properties 103
5Properties
947Units
PROSPECTIVE PROPERTIES 4 Properties 1,568 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Alta East Shore 2423 Areca Palm Drive, Apopka, FL 32703
285 Wood Partners 06/2020 12/2021 03/2021
DEVELOPMENT ACTIVITY MARCH 2021
Apopka | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
Yardi® Matrix has no sales recorded in this submarket for the last 5 years
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Willow Lake500 Monica Rose DriveApopka, FL 32703
428 1999 A- B+ Starwood Capital Group
Wilson Company, The
02/2016 $30.12 $67.34 $70K 2047 $13.14
Taylor131 East 15th StreetApopka, FL 32703
101 1970 C B- American Community Developers
Barcus, Maria 08/2012 $4.28 $66.31 $42K 2055 $3.50
Taylor131 East 15th StreetApopka, FL 32703
101 1970 C B- Barcus, Maria Hara Management 08/2008 $3.30 $51.08 $33K
Orange North943 West Orange Blossom TrailApopka, FL 32712
94 1976 C+ B- Korkmaz, Iltekin A. Wimsatt Management
04/2007 $4.65 $61.24 $49K $3.75
Apopka | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
CELEBRATION
ORLANDO MULTIFAMILYMARCH 2021
Celebration submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
17 Properties
4,768 Units
B Average Location Rating
A- Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
93.8%Occupancy Rate
March 2021
37th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
-2.5%Y-o-Y Change
$1,432Average Rental Rate
March 2021
42nd
Rank out of 53 Submarkets
30.4%Growth in 2021 -Projected Year End
1,449Units built in 2021 -Projected Year End
5th
Celebration | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 3,000 756 0.9% 1.9% 2.8% 4.6% -1.3% -5.0% -5.0% -4.2%
Two Bedrooms 3,719 1,031 3.7% 4.4% 4.1% 4.3% -2.1% -5.1% -5.3% -4.8%
Three Bedrooms 1,236 1,124 3.0% 3.5% 5.3% 6.7% 2.1% 0.2% -1.5% -4.7%
Other 1,010 1,021 3.2% 2.0% -2.3% 1.2% 0.4% 0.7% 1.3% 0.2%
Overall 8,965 983 3.0% 3.7% 4.1% 5.0% -0.8% -3.8% -4.3% -4.3%
Rank out of 53 Submarkets
-4.2%Y-o-Y Change
Q1 2021
47th
Rank out of 53 Submarkets
$1,281Average Rental Rate
Q1 2021
13th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
-4.8%Y-o-Y Change
Q1 2021
49th
Rank out of 53 Submarkets
$1,545Average Rental Rate
Q1 2021
9th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
-4.7%Y-o-Y Change
Q1 2021
49th
Rank out of 53 Submarkets
$1,806Average Rental Rate
Q1 2021
13th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Celebration | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 13th/40 71.86% 2,725
2021 11th/29 28.59% 1,449
2022 N/A N/A N/A
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 7th/45 69.67% 2,957
2021 6th/33 25.19% 1,449
2022 N/A N/A N/A
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
5Properties
1,449Units
Property Address # Units DeveloperSubmitted Date
Fortune Star 7650 West Irlo Bronson Memorial Hwy, Kissimmee, FL 34747
550 Sternon Group Real Estate 12/2019
Shingle Creek Blossom Drive & Pleasant Hill Drive, Kissimmee, FL 34746
330 Dominium 12/2018
Ham Brown Reserve Ham Brown Road & Reaves Road, Kissimmee, FL 34746
298 Butters Construction & Development 11/2020
Blue Cypress Preserve Bali Blvd & West Irlo Bronson Memorial Hwy, Four Corners, FL 34714
64 Gardner Development 09/2020
4Properties
1,242Units
394Fully Affordable Units
PROSPECTIVE PROPERTIES 13 Properties 71 Fully Affordable Units3,553 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Delamarre at Celebration 660 Dumont Street, Celebration, FL 34747
379 Kettler 05/2020 08/2021 02/2021
Maingate Village 7300 West Irlo Bronson Memorial Hwy, Kissimmee, FL 34747
357 T2 Capital Management 05/2020 05/2021 11/2020
Dolce Living Royal Palm 3250 Orleans Avenue, Kissimmee, FL 34747
326 Luxe Residential 02/2018 05/2021 06/2020
Sentosa Reunion 400 Hidden Palm Circle, Kissimmee, FL 34747
288 Encore Capital Management
11/2019 03/2021 05/2020
+ 1 More Properties 99
DEVELOPMENT ACTIVITY MARCH 2021
Celebration | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
26 th Rank out of 53 Submarkets $153K Sale Price
per Unit
*partial year, ending March 2021
11 th Rank out of 53 Submarkets 2.0 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Tierra Vista8700 Tierra Vista CircleKissimmee, FL 34747
152 1997 B- B SELA Realty CGI Strategies 02/2020 $19.70 $127.65 $130K
Cortland Reunion7995 Haven WayKissimmee, FL 34747
338 2019 A- B- Cortland DeBartolo Development
10/2019 $70.98 $212.42 $210K
Meadows at ChampionsGate, The9116 Integra Meadows DriveDavenport, FL 33896
304 2008 A- B Bluerock Real Estate Centennial Holding Company
08/2019 $59.00 $182.83 $194K 2029 $38.65
Astoria at Celebration1688 Celebration BlvdCelebration, FL 34747
306 2020 A- B+ CGI Strategies SouthStar Properties
02/2019 $43.00 $148.66 $141K
Gate, The1550 Calder BlvdChampions Gate, FL 33896
308 2017 A- B- Bluerock Real Estate Investors Realty 01/2019 $65.00 $206.05 $211K 2029 $39.00
Aspect, The3101 Segreto LaneKissimmee, FL 34747
432 2010 A- B+ Electra America Macquarie Group 05/2018 $69.77 $161.84 $161K 2028 $49.16
Grand at Westside, The3250 Douglas Grand DriveKissimmee, FL 32747
336 2016 A C+ Bluerock Real Estate Douglas Partners 02/2018 $67.50 $196.72 $201K 2028 $41.56
Cane Island5251 Cane Island LoopKissimmee, FL 34746
166 2007 A- B CGI Strategies D.R. Horton 12/2017 $25.75 $118.75 $155K $18.75
Domain Orlando3100 Domain CircleKissimmee, FL 34747
324 2017 A B+ Newgard Development Group
DeBartolo Development
12/2017 $57.67 $169.68 $178K $39.20
Celebration | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
CLERMONT
ORLANDO MULTIFAMILYMARCH 2021
Clermont submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
11 Properties
2,717 Units
B+ Average Location Rating
A- Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
94.6%Occupancy Rate
March 2021
27th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
-0.9%Y-o-Y Change
$1,458Average Rental Rate
March 2021
36th
Rank out of 53 Submarkets
13.5%Growth in 2021 -Projected Year End
367Units built in 2021 -Projected Year End
13th
Clermont | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 1,319 793 2.7% 1.5% 2.8% 4.0% 2.8% 3.0% 2.8% -0.3%
Two Bedrooms 1,727 1,158 9.3% 3.0% -0.4% 1.4% -0.3% 0.8% 0.2% -4.3%
Three Bedrooms 478 1,360 8.0% 3.2% 0.7% -1.5% -1.7% -0.2% 0.7% 2.9%
Other 24 500 0.0% 0.0% 0.0% 0.0% 9.3% 7.4% 4.3% 4.2%
Overall 3,548 953 7.1% 2.7% 0.7% 1.7% 0.4% 1.3% 1.1% -1.9%
Rank out of 53 Submarkets
-0.3%Y-o-Y Change
Q1 2021
27th
Rank out of 53 Submarkets
$1,256Average Rental Rate
Q1 2021
18th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
-4.3%Y-o-Y Change
Q1 2021
48th
Rank out of 53 Submarkets
$1,504Average Rental Rate
Q1 2021
14th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
2.9%Y-o-Y Change
Q1 2021
16th
Rank out of 53 Submarkets
$1,766Average Rental Rate
Q1 2021
18th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Clermont | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 16th/40 61.14% 999
2021 19th/29 12.71% 297
2022 N/A N/A N/A
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 9th/45 53.05% 1,069
2021 10th/33 13.51% 367
2022 N/A N/A N/A
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
2Properties
367Units
70Fully Affordable Units
Property Address # Units DeveloperSubmitted Date
Neo at Four Corners South Grassy Lake Road & US Highway 27, Clermont, FL 34715
350 Park Square Homes 12/2018
Hancock Hancock Road & State Road 50, Clermont, FL 34711
306 Fulcrum Management 02/2016
2Properties
656Units
PROSPECTIVE PROPERTIES 4 Properties 811 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Minneola Hills 450 Hillside Park Street, Minneola, FL 34715
297 Skorman Construction 11/2019 05/2021 11/2020
Clermont Ridge Senior Villas 1100 Hunt Trace Blvd, Clermont, FL 34711
70 Blue Sky Communities 06/2020 04/2021 11/2020
DEVELOPMENT ACTIVITY MARCH 2021
Clermont | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
23 rd Rank out of 53 Submarkets $164K Sale Price
per Unit
*partial year, ending March 2021
26 th Rank out of 53 Submarkets 1.0 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Lofts at South Lake831 Oakley Seaver DriveClermont, FL 34711
144 2019 B+ B+ Gentis, John D. Inland Real Estate Group
10/2020 $24.00 $250.03 $167K 2030 $20.48
Madison Clermont600 River Birch CourtClermont, FL 34711
250 2000 B+ B+ Investcorp Equus Capital Partners
05/2019 $39.50 $153.21 $158K 2029 $27.41
Advenir at Castle Hill13600 Hartle Groves PlaceClermont, FL 34711
328 2017 A- B Advenir Real Capital Solutions
06/2018 $68.50 $193.24 $209K 2029 $47.68
Osprey Ridge201 Hunt StreetClermont, FL 34711
176 2001 B+ B+ Starwood Capital Group
AGPM 02/2018 $16.39 $83.20 $93K 2028 $12.29
Citrus Tower1290 North Ridge BlvdClermont, FL 34711
336 2006 B+ B+ Bluerock Real Estate Centennial Holding Company
09/2017 $55.25 $141.63 $164K 2024 $41.44
Vista at Lost Lake, The2550 Citrus Tower BlvdClermont, FL 34711
468 2007 A B SouthStar Properties
Cortland 10/2016 $44.18 $86.67 $94K 2026 $49.42
Vista at Lost Lake, The2550 Citrus Tower BlvdClermont, FL 34711
468 2007 A B Cortland McCann Realty Partners
01/2015 $62.38 $122.38 $133K
Madison Clermont600 River Birch CourtClermont, FL 34711
250 2000 B+ B+ Equus Capital Partners
Alex Brown Realty 08/2014 $25.50 $98.92 $102K 2024 $18.85
Citrus Tower1290 North Ridge BlvdClermont, FL 34711
336 2006 B+ B+ Centennial Holding Company
Bainbridge Companies
10/2012 $32.60 $83.57 $97K
Clermont | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
FISH LAKE
ORLANDO MULTIFAMILYMARCH 2021
Fish Lake submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
13 Properties
3,511 Units
B- Average Location Rating
B Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
97.6%Occupancy Rate
March 2021
5th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
5.7%Y-o-Y Change
$1,242Average Rental Rate
March 2021
2nd
Rank out of 53 Submarkets
10.6%Growth in 2021 -Projected Year End
372Units built in 2021 -Projected Year End
17th
Fish Lake | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 1,159 643 1.7% 5.2% 6.2% -1.7% 1.3% -0.6% -3.3% 3.4%
Two Bedrooms 1,700 874 0.8% 2.1% 4.8% -1.2% -1.6% -2.1% -0.8% 5.4%
Three Bedrooms 619 866 -6.6% -9.0% -1.7% 4.6% 3.0% 10.1% 14.4% 7.2%
Other 329 817 3.0% 5.5% 4.0% 0.2% 1.1% 3.7% 2.1% 4.7%
Overall 3,807 800 0.9% 2.8% 4.8% -0.9% 0.1% -0.3% -0.6% 4.5%
Rank out of 53 Submarkets
3.4%Y-o-Y Change
Q1 2021
3rd
Rank out of 53 Submarkets
$1,124Average Rental Rate
Q1 2021
29th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
5.4%Y-o-Y Change
Q1 2021
3rd
Rank out of 53 Submarkets
$1,422Average Rental Rate
Q1 2021
26th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
7.2%Y-o-Y Change
Q1 2021
4th
Rank out of 53 Submarkets
$1,821Average Rental Rate
Q1 2021
12th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Fish Lake | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 12th/40 74.39% 607
2021 12th/29 25.82% 292
2022 N/A N/A N/A
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 25th/45 21.50% 687
2021 17th/33 10.60% 372
2022 N/A N/A N/A
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
2Properties
372Units
80Fully Affordable Units
Property Address # Units DeveloperSubmitted Date
Center Lake Ranch South Narcoossee Road & Rummell Road, St. Cloud, FL 34771
800 Pineloch Management 05/2019
Heritage Park Phase II 302 Parkland Circle, Kissimmee, FL 34744 118 Atlantic Housing Partners 10/2020
2Properties
918Units
118Fully Affordable Units
PROSPECTIVE PROPERTIES 10 Properties 186 Fully Affordable Units1,435 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
14Fifty Neo City 1450 East Vine Street, Kissimmee, FL 34744
292 Panther Properties 03/2020 08/2021 01/2021
Gannet Pointe 2124 Lepic Lane, Kissimmee, FL 34744
80 Artemis Lifestyles 12/2019 04/2021 12/2020
DEVELOPMENT ACTIVITY MARCH 2021
Fish Lake | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
6 th Rank out of 53 Submarkets $225K Sale Price
per Unit
*partial year, ending March 2021
47 th Rank out of 53 Submarkets 0.2 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Jamison, The1040 Jamison LoopKissimmee, FL 34744
315 2020 A- B- Lexin Capital DeBartolo Development
02/2021 $70.80 $211.82 $225K $47.00
Remington, The201 Simpson RoadKissimmee, FL 34744
186 2010 C B- Brookfield Investments
Menlo Capital Group
04/2016 $2.03 $33.58 $11K 2028 $10.10
Grande Court at Boggy Creek1401 Grande BlvdKissimmee, FL 34743
394 2003 B C+ Hercules Real Estate Services
Courtelis Company 03/2016 $26.20 $73.91 $66K 2035 $15.54
Walden Park2101 Walden Park CircleKissimmee, FL 34744
300 2002 B B- Starwood Capital Group
Wilson Company, The
02/2016 $24.60 $80.64 $82K 2048 $18.04
Verano2200 Villa Verano WayKissimmee, FL 34744
384 2008 A- B- Starlight Investments
Waterton 12/2014 $48.75 $124.70 $127K
St. Cloud Village201 St. Cloud Village CourtKissimmee, FL 34744
208 1998 B B- Dominium Esko Properties 07/2013 $16.80 $87.37 $81K 2023 $8.11
Verano2200 Villa Verano WayKissimmee, FL 34744
384 2008 A- B- Waterton CF Real Estate Services
10/2011 $37.23 $95.23 $97K
Simpson Ridge2300 Simpson Ridge CircleKissimmee, FL 34744
169 1988 C B- Campbell Property Management
Bowden, Michael R. 12/1992 $3.00 $24.78 $18K 2041 $6.45
Fish Lake | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
HUNTER'S CREEK
ORLANDO MULTIFAMILYMARCH 2021
Hunter's Creek submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
20 Properties
6,615 Units
B Average Location Rating
A- Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
94.7%Occupancy Rate
March 2021
23rd
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
-2.9%Y-o-Y Change
$1,486Average Rental Rate
March 2021
45th
Rank out of 53 Submarkets
5.2%Growth in 2021 -Projected Year End
328Units built in 2021 -Projected Year End
24th
Hunter's Creek | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 2,434 810 3.8% 3.8% 2.2% 2.5% -3.3% -5.8% -5.6% -5.1%
Two Bedrooms 3,900 1,126 3.3% 2.9% 1.5% -0.8% -3.9% -5.9% -6.5% -3.7%
Three Bedrooms 1,407 1,370 -0.6% -1.3% 0.5% 3.4% -3.3% -8.2% -9.8% -8.5%
Overall 7,741 1,102 2.6% 2.2% 1.5% 1.0% -3.6% -6.3% -6.8% -5.1%
Rank out of 53 Submarkets
-5.1%Y-o-Y Change
Q1 2021
50th
Rank out of 53 Submarkets
$1,283Average Rental Rate
Q1 2021
12th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
-3.7%Y-o-Y Change
Q1 2021
44th
Rank out of 53 Submarkets
$1,508Average Rental Rate
Q1 2021
13th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
-8.5%Y-o-Y Change
Q1 2021
52nd
Rank out of 53 Submarkets
$1,696Average Rental Rate
Q1 2021
28th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Hunter's Creek | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 25th/40 29.41% 1,224
2021 23rd/29 6.48% 328
2022 9th/15 11.25% 606
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 28th/45 19.59% 1,224
2021 24th/33 4.59% 328
2022 6th/18 8.11% 606
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
2Properties
606Units
Property Address # Units DeveloperSubmitted Date
Wetherbee Road 4402 East Wetherbee Road, Orlando, FL 32824 950 D.R. Horton 12/2019
Tyson Ranch Boggy Creek Road & Simpson Road, Orlando, FL 32824
320 M/I Homes 08/2020
Alta Freedom 2630 Amazonas Circle, Orlando, FL 32837 297 Wood Partners 12/2019
Alta Headwaters Phase II 4000 Headwaters Way, Orlando, FL 32837 100 Wood Partners 09/2019
4Properties
1,667Units
PROSPECTIVE PROPERTIES 6 Properties 2,806 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Boggy Creek Crossing 5757 Simpson Road, Orlando, FL 32824
310 Watkins Real Estate 02/2021 08/2022
Poinciana Blvd 8152 Poinciana Blvd, Orlando, FL 32837
296 Intram Investments 08/2020 03/2022
DEVELOPMENT ACTIVITY MARCH 2021
Hunter's Creek | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
8 th Rank out of 53 Submarkets $210K Sale Price
per Unit
*partial year, ending March 2021
21 st Rank out of 53 Submarkets 1.2 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Grandewood Pointe3701 Grandewood BlvdOrlando, FL 32837
306 2005 B C+ Lloyd Jones Capital Bluerock Real Estate 01/2021 $65.25 $197.06 $213K 2031 $46.20
Parkway at Hunter's Creek, The14200 Colonial Grand BlvdOrlando, FL 32837
496 1997 A B+ Priderock Capital Partners
Milestone Group, The
04/2020 $104.50 $167.34 $211K 2035 $78.33
Lantower Grande Flats3512 Grande Reserve WayOrlando, FL 32837
314 2018 A C+ Lantower Residential
Wood Partners 06/2019 $74.73 $245.60 $238K
Linden on the GreeneWay13000 Breaking Dawn DriveOrlando, FL 32824
234 2017 A B Harbor Group International
CPG Construction 11/2018 $47.00 $196.70 $201K 2028 $32.90
Murano9932 Grande Lakes BlvdOrlando, FL 32837
240 2016 A- C+ Cardone Capital Courtelis Company 02/2018 $50.15 $214.18 $209K $33.50
ARIUM Hunters Creek13300 Colony Square DriveOrlando, FL 32837
532 1999 A- B+ Bluerock Real Estate Carroll Organization 10/2017 $97.50 $164.99 $183K 2024 $72.29
Parkway at Hunter's Creek, The14200 Colonial Grand BlvdOrlando, FL 32837
496 1997 A B+ Milestone Group, The
Colony Realty Partners
09/2016 $78.20 $125.23 $158K 2023 $54.74
ARIUM Hunters Creek13300 Colony Square DriveOrlando, FL 32837
532 1999 A- B+ Carroll Organization TA Realty 12/2015 $81.55 $138.00 $153K
Hunter's Creek | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
LAKE BRYAN
ORLANDO MULTIFAMILYMARCH 2021
Lake Bryan submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
22 Properties
7,140 Units
B+ Average Location Rating
A- Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
95.1%Occupancy Rate
March 2021
18th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
-3.8%Y-o-Y Change
$1,463Average Rental Rate
March 2021
47th
Rank out of 53 Submarkets
3.7%Growth in 2021 -Projected Year End
266Units built in 2021 -Projected Year End
28th
Lake Bryan | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 3,490 700 5.3% 4.4% 3.6% 1.1% -5.9% -9.0% -8.6% -4.1%
Two Bedrooms 4,347 1,050 0.8% -0.1% 1.5% 2.5% -2.3% -5.4% -7.3% -5.8%
Three Bedrooms 1,176 1,322 5.7% 3.5% 2.8% 1.2% -6.2% -10.7% -10.9% -8.1%
Other 34 1,454 -1.0% -0.4% 3.0% -0.7% 2.4% -6.4% -13.8% -8.2%
Overall 9,047 1,132 2.9% 1.9% 2.3% 1.8% -4.0% -7.4% -8.2% -5.5%
Rank out of 53 Submarkets
-4.1%Y-o-Y Change
Q1 2021
46th
Rank out of 53 Submarkets
$1,270Average Rental Rate
Q1 2021
16th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
-5.8%Y-o-Y Change
Q1 2021
52nd
Rank out of 53 Submarkets
$1,529Average Rental Rate
Q1 2021
11th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
-8.1%Y-o-Y Change
Q1 2021
51st
Rank out of 53 Submarkets
$1,825Average Rental Rate
Q1 2021
11th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Lake Bryan | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 17th/40 59.18% 2,147
2021 26th/29 4.83% 266
2022 N/A N/A N/A
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 12th/45 41.19% 2,325
2021 27th/33 3.45% 266
2022 N/A N/A N/A
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
1Property
266Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Addison Lake Bryan, The 12570 Splendid Place, Orlando, FL 32821
266 ContraVest 07/2020 08/2021
Yardi® Matrix has no recorded planned properties in this Submarket
DEVELOPMENT ACTIVITY MARCH 2021
Lake Bryan | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
14 th Rank out of 53 Submarkets $186K Sale Price
per Unit
*partial year, ending March 2021
9 th Rank out of 53 Submarkets 2.0 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Palms at World Gateway9000 Avenue Pointe CircleOrlando, FL 32821
252 2007 A B Carter-Haston Real Estate Services
Carroll Organization 09/2019 $46.85 $171.12 $186K 2029 $33.28
Integra Cove6801 Integra Cove BlvdOrlando, FL 32821
338 2015 A- B+ LivCor Praedium Group 03/2019 $70.75 $217.90 $209K
Ancora10107 Ancora CircleOrlando, FL 32821
289 2018 A B Redwood Capital Group
LeCesse Development
12/2018 $64.60 $230.28 $224K $31.75
Axis West6820 Axis West CircleOrlando, FL 32821
268 2017 A B+ Bluerock Real Estate Flournoy Companies
05/2018 $62.85 $237.15 $235K 2028 $38.40
Linden Crossroads7261 Crossroads Garden DriveOrlando, FL 32821
314 2016 A B Harbor Group International
Trammell Crow Residential
05/2018 $64.50 $236.31 $205K $41.93
Pavilion at Lake Eve12515 Lake Square CircleOrlando, FL 32821
264 2013 A B+ Gamma Real Estate Crow Holdings 03/2018 $50.10 $190.41 $190K 2053 $39.98
Lantower Grande Pines11660 Westwood BlvdOrlando, FL 32821
282 2017 A- B Lantower Residential
Picerne Real Estate Group
11/2017 $59.50 $202.50 $211K $38.68
Discovery Palms12806 Madison Pointe CircleOrlando, FL 32821
167 2003 A- B ESG Kullen Obligo Real Estate 08/2017 $16.57 $113.54 $114K $20.82
Adelaide, The6677 Tanglewood Bay DriveOrlando, FL 32821
408 1987 B B Emma Capital Advenir 07/2017 $47.00 $141.08 $115K
Lake Bryan | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
LAKE BUENA VISTA
ORLANDO MULTIFAMILYMARCH 2021
Lake Buena Vista submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
23 Properties
6,705 Units
A- Average Location Rating
A- Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
94.3%Occupancy Rate
March 2021
28th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
-2.0%Y-o-Y Change
$1,583Average Rental Rate
March 2021
40th
Rank out of 53 Submarkets
10.4%Growth in 2021 -Projected Year End
694Units built in 2021 -Projected Year End
18th
Lake Buena Vista | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 2,847 577 1.0% 1.4% 1.4% -0.8% -4.2% -5.5% -5.5% -3.3%
Two Bedrooms 3,616 897 0.3% 2.3% 5.3% 3.4% 1.4% -4.3% -7.5% -4.3%
Three Bedrooms 984 1,201 3.5% 1.7% 1.0% 1.7% -1.8% -0.3% -0.3% 1.2%
Overall 7,447 892 1.0% 1.9% 3.4% 1.9% -0.9% -4.0% -5.7% -3.1%
Rank out of 53 Submarkets
-3.3%Y-o-Y Change
Q1 2021
42nd
Rank out of 53 Submarkets
$1,350Average Rental Rate
Q1 2021
8th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
-4.3%Y-o-Y Change
Q1 2021
47th
Rank out of 53 Submarkets
$1,665Average Rental Rate
Q1 2021
7th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
1.2%Y-o-Y Change
Q1 2021
26th
Rank out of 53 Submarkets
$2,051Average Rental Rate
Q1 2021
7th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Lake Buena Vista | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 5th/40 88.36% 3,341
2021 20th/29 10.80% 694
2022 15th/15 5.22% 372
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 6th/45 69.92% 3,341
2021 19th/33 9.35% 694
2022 14th/18 4.58% 372
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
4Properties
1,066Units
Property Address # Units DeveloperSubmitted Date
Village at O-Town West, The Daryl Carter Pkwy & Palm Pkwy, Orlando, FL 32836
850 Unicorp National Developments 08/2019
Turkey Lake Road 10900 Turkey Lake Road, Orlando, FL 32819 376 M Shapiro Development 07/2020
Addison at Cypress Sound Lake Sawyer Drive & Winter Garden Vineland Road, Windermere, FL 34786
216 ContraVest 09/2018
3Properties
1,442Units
PROSPECTIVE PROPERTIES 5 Properties 3,620 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Elan Ruby Lake 11907 Ruby Lake Road, Orlando, FL 32836
372 Greystar 08/2020 01/2022
Jefferson Sand Lake 6265 Sand Lake Vista Drive, Orlando, FL 32819
264 Jefferson Apartment Group 01/2020 10/2021 04/2021
Lodge at Hamlin, The 6151 Lake Lodge Drive, Winter Garden, FL 34787
250 Boyd Development 11/2019 04/2021 06/2020
Overture Hamlin 5795 Citrus Village Blvd, Winter Garden, FL 34787
180 Greystar 01/2020 08/2021 08/2020
DEVELOPMENT ACTIVITY MARCH 2021
Lake Buena Vista | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
12 th Rank out of 53 Submarkets $195K Sale Price
per Unit
*partial year, ending March 2021
6 th Rank out of 53 Submarkets 2.4 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Lake Vue7119 Sand Lake Reserve DriveOrlando, FL 32819
196 2016 A- A- Nuveen Real Estate NRP Group 01/2021 $44.66 $237.14 $228K
Montevista at Windermere6421 Conroy RoadOrlando, FL 32835
360 1990 B+ A Taurus Investment Holdings
TruAmerica Multifamily
11/2020 $65.00 $234.30 $181K 2030 $49.65
Venetian Isle6506 San Francesco WayWindermere, FL 34786
346 2017 A A- CBRE Global Investors
Unicorp National Developments
02/2020 $92.00 $225.84 $266K $54.00
Zen Luxury Living9835 Namaste LoopOrlando, FL 32836
258 2017 A A- CBRE Global Investors
Unicorp National Developments
02/2020 $68.00 $223.88 $264K $36.10
Windermere at Lake's Edge2415 Treasure Landing PkwyOcoee, FL 34761
447 2000 A- A- Blackstone Group Carroll Organization 12/2019 $97.10 $198.45 $217K
Lakewalk at Hamlin14012 Shoreside WayWinter Garden, FL 34787
316 2018 A B+ BET Investments Boyd Development 07/2019 $80.13 $236.61 $254K $36.50
Buena Vista Point11856 Reedy Creek DriveOrlando, FL 32836
324 1994 B- B+ Starwood Capital Group
AGPM 02/2018 $33.29 $116.14 $103K 2028 $24.23
Rialto, The7343 West Sand Lake RoadOrlando, FL 32819
200 2014 A- A Northland Investment Corporation
Wood Partners 08/2017 $49.60 $222.65 $248K 2024 $37.20
Park Place at Maguire100 Maguire Park StreetOcoee, FL 34761
242 2016 A- A- Praedium Group Skorman Construction
07/2017 $49.55 $200.79 $205K 2022 $31.72
Lake Buena Vista | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
LAKE MARY
ORLANDO MULTIFAMILYMARCH 2021
Lake Mary submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
10 Properties
3,365 Units
A- Average Location Rating
A- Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
96%Occupancy Rate
March 2021
10th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
1.0%Y-o-Y Change
$1,375Average Rental Rate
March 2021
24th
Rank out of 53 Submarkets
16.8%Growth in 2021 -Projected Year End
566Units built in 2021 -Projected Year End
9th
Lake Mary | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 1,645 653 2.3% 1.4% -0.3% -1.6% -3.8% -4.5% -3.4% 0.7%
Two Bedrooms 2,128 967 -5.5% 0.3% 5.6% 3.9% 2.4% -2.4% -5.4% -1.2%
Three Bedrooms 463 1,153 -9.8% -2.5% 5.5% 1.6% 4.5% 1.5% -1.5% -0.2%
Other 24 1,300 0.7% 4.2% 6.4% 6.5% 13.9% 11.6% 6.4% 5.6%
Overall 4,260 1,018 -3.6% 0.3% 3.6% 1.8% 0.7% -2.4% -4.1% -0.4%
Rank out of 53 Submarkets
0.7%Y-o-Y Change
Q1 2021
18th
Rank out of 53 Submarkets
$1,201Average Rental Rate
Q1 2021
22nd
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
-1.2%Y-o-Y Change
Q1 2021
34th
Rank out of 53 Submarkets
$1,402Average Rental Rate
Q1 2021
28th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
-0.2%Y-o-Y Change
Q1 2021
40th
Rank out of 53 Submarkets
$1,683Average Rental Rate
Q1 2021
30th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Lake Mary | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 24th/40 30.84% 829
2021 17th/29 19.18% 566
2022 N/A N/A N/A
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 24th/45 22.41% 829
2021 9th/33 14.28% 566
2022 N/A N/A N/A
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
2Properties
566Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Helix at Lake Mary, The 962 Bentstation Lane, Lake Mary, FL 32746
300 Parkway Properties 08/2020 09/2021
Alta Longwood 881 West Warren Avenue, Longwood, FL 32750
266 Wood Partners 11/2019 06/2021 09/2020
Yardi® Matrix has no recorded planned properties in this Submarket
DEVELOPMENT ACTIVITY MARCH 2021
Lake Mary | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
13 th Rank out of 53 Submarkets $191K Sale Price
per Unit
*partial year, ending March 2021
36 th Rank out of 53 Submarkets 0.6 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
DRAKE Midtown252 Wheelhouse LaneLake Mary, FL 32746
263 2018 A- B+ DWS Unicorp National Developments
09/2019 $67.75 $247.58 $258K
Fairways at Lake Mary700 Oakland Hills CircleLake Mary, FL 32746
272 1997 A- A- TruAmerica Multifamily
Rock Companies 03/2019 $54.00 $173.71 $199K
Terraces at Lake Mary, The1000 Regal Pointe TerraceLake Mary, FL 32746
284 1997 B B Resource Real Estate
RAS Real Estate Partners
09/2017 $44.10 $149.59 $155K 2024 $32.25
Pure Living740 Savory PlaceHeathrow, FL 32746
252 2009 A A Starlight Investments
Providence One Partners
05/2015 $44.75 $145.66 $178K
Terraces at Lake Mary, The1000 Regal Pointe TerraceLake Mary, FL 32746
284 1997 B B RAS Real Estate Partners
CED Capital Holdings
01/2015 $31.00 $105.16 $109K
Sun Lake420 Sun Lake CircleLake Mary, FL 32746
600 1986 B B+ Lindemann Multifamily Management
Harbor Group International
01/2015 $66.25 $124.15 $110K 2030 $49.69
Sun Lake420 Sun Lake CircleLake Mary, FL 32746
600 1986 B B+ Harbor Group International
Aimco 08/2012 $40.00 $74.96 $67K
Bell Timacuan715 Camarague PlaceLake Mary, FL 32746
310 2000 A B+ Bell Partners PGIM Real Estate 11/2011 $34.13 $99.36 $110K
Pure Living740 Savory PlaceHeathrow, FL 32746
252 2009 A A Providence One Partners
Lincoln National Life Insurance
03/2011 $31.50 $102.53 $125K
Lake Mary | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
LEESBURG
ORLANDO MULTIFAMILYMARCH 2021
Leesburg submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
22 Properties
3,115 Units
B- Average Location Rating
B Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
97.7%Occupancy Rate
March 2021
4th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
5.6%Y-o-Y Change
$1,081Average Rental Rate
March 2021
3rd
Rank out of 53 Submarkets
0.0%Growth in 2021 -Projected Year End
N/AUnits built in 2021 -Projected Year End
N/A
Leesburg | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 886 565 10.3% 8.3% 4.4% 4.2% 3.3% 4.4% 5.8% 2.3%
Two Bedrooms 1,653 766 3.1% 5.0% 5.1% 0.4% -4.1% -2.9% 1.9% 7.0%
Three Bedrooms 638 1,003 -1.7% 1.1% 4.3% 3.2% 0.7% -0.9% -0.5% 2.3%
Other 174 1,108 5.9% 7.1% 9.7% 8.9% 3.0% 0.9% -0.9% 0.7%
Overall 3,351 860 4.3% 5.4% 4.7% 2.2% -0.9% -0.2% 2.8% 4.6%
Rank out of 53 Submarkets
2.3%Y-o-Y Change
Q1 2021
5th
Rank out of 53 Submarkets
$915Average Rental Rate
Q1 2021
48th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
7%Y-o-Y Change
Q1 2021
2nd
Rank out of 53 Submarkets
$1,116Average Rental Rate
Q1 2021
46th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
2.3%Y-o-Y Change
Q1 2021
22nd
Rank out of 53 Submarkets
$1,348Average Rental Rate
Q1 2021
47th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Leesburg | Orlando Multifamily | 3
Yardi® Matrix has no recorded completions for this submarket; historic or projected 2016 - 2022
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
Property Address # Units DeveloperSubmitted Date
Venetian Isles East Dixie Avenue & South Lake Street, Leesburg, FL 34748
100 Ardent Companies, The 03/2018
1Property
100Units
PROSPECTIVE PROPERTIES 3 Properties 493 Units
Yardi® Matrix has no recorded under construction properties in this Submarket
DEVELOPMENT ACTIVITY MARCH 2021
Leesburg | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
44 th Rank out of 53 Submarkets $105K Sale Price
per Unit
*partial year, ending March 2021
38 th Rank out of 53 Submarkets 0.4 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Turtle Oaks2311 Griffin RoadLeesburg, FL 34748
101 1969 C C Millennia Housing Companies
Global Ministries Foundation
11/2018 $10.21 $141.36 $101K 2019 $10.25
Carmendy Square367 Sunny Oaks WayLady Lake, FL 32159
152 2002 B+ C+ Maxus Realty Trust Balfour Beatty 06/2017 $16.45 $90.44 $108K 2024 $10.63
Carmendy Square367 Sunny Oaks WayLady Lake, FL 32159
152 2002 B+ C+ Balfour Beatty Aspen Square Management
09/2014 $13.98 $76.88 $92K
Turtle Oaks2311 Griffin RoadLeesburg, FL 34748
101 1969 C C Global Ministries Foundation
Miami Mar 06/2014 $4.87 $67.46 $48K 2049
Oakleaf Village423 Highway 466Lady Lake, FL 32159
356 2008 A- C+ GMC Properties ContraVest 06/2013 $30.25 $79.17 $85K 2028 $21.50
Carmendy Square367 Sunny Oaks WayLady Lake, FL 32159
152 2002 B+ C+ Aspen Square Management
Steinmetz Group 12/2011 $7.50 $41.23 $49K
Blueberry Hill II33338 Shawn DriveLeesburg, FL 34788
68 1987 C+ B- Gonzalez, Ruben F. PBE Companies 08/2010 $0.90 $22.48 $13K
Turtle Oaks2311 Griffin RoadLeesburg, FL 34748
101 1969 C C Miami Mar Passmore & Cox 11/2008 $3.00 $41.56 $30K
Blueberry Hill II33338 Shawn DriveLeesburg, FL 34788
68 1987 C+ B- MJW & Associates Praedium Group 10/2005 $2.21 $55.29 $33K
Leesburg | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
LONGWOOD
ORLANDO MULTIFAMILYMARCH 2021
Longwood submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
13 Properties
3,239 Units
B- Average Location Rating
B+ Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
94.1%Occupancy Rate
March 2021
31st
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
0.7%Y-o-Y Change
$1,304Average Rental Rate
March 2021
26th
Rank out of 53 Submarkets
4.2%Growth in 2021 -Projected Year End
130Units built in 2021 -Projected Year End
25th
Longwood | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 1,228 692 7.2% 5.0% 3.4% 1.8% -1.0% -2.4% -4.0% -3.6%
Two Bedrooms 1,459 1,034 4.5% 4.9% 4.2% 1.2% -3.1% -2.7% -0.8% 1.4%
Three Bedrooms 387 1,185 2.5% 5.9% 7.2% -1.9% -0.1% -1.4% -3.0% 5.7%
Other 35 996 8.5% 12.1% 9.4% 11.6% 4.4% 4.7% 9.0% 7.1%
Overall 3,109 977 5.3% 5.1% 4.2% 1.1% -2.0% -2.4% -2.2% -0.1%
Rank out of 53 Submarkets
-3.6%Y-o-Y Change
Q1 2021
44th
Rank out of 53 Submarkets
$1,131Average Rental Rate
Q1 2021
28th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
1.4%Y-o-Y Change
Q1 2021
20th
Rank out of 53 Submarkets
$1,398Average Rental Rate
Q1 2021
29th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
5.7%Y-o-Y Change
Q1 2021
7th
Rank out of 53 Submarkets
$1,704Average Rental Rate
Q1 2021
27th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Longwood | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 4th/40 109.52% 771
2021 21st/29 9.67% 130
2022 N/A N/A N/A
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 17th/45 31.24% 771
2021 25th/33 4.18% 130
2022 N/A N/A N/A
Lifestyle Inventory Growth
Overall Inventory Growth
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
Property Address # Units DeveloperSubmitted Date
Kiwi at Fern Lake 707 East Street, Longwood, FL 32750 75 Lennar Multifamily Communities 12/2019
John L. Mica Way & Palmetto Avenue
John L. Mica Way & Palmetto Avenue, Longwood, FL 32750
52 Wendover Housing Partners 10/2019
2Properties
127Units
PROSPECTIVE PROPERTIES 1 Property 50 Units
Yardi® Matrix has no recorded under construction properties in this Submarket
DEVELOPMENT ACTIVITY MARCH 2021
Longwood | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
10 th Rank out of 53 Submarkets $206K Sale Price
per Unit
*partial year, ending March 2021
40 th Rank out of 53 Submarkets 0.4 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Blake, The151 Michael Blake BlvdWinter Springs, FL 32708
281 2019 A B- Preferred Apartment Communities
Catalyst Development Partners
11/2020 $62.22 $243.72 $221K 2030 $44.44
RiZE at Winter Springs150 Bear Springs DriveWinter Springs, FL 32708
244 2016 A B- Klingbeil Capital Management
LeCesse Development
02/2017 $46.50 $176.79 $191K
Park at Laurel Oaks, The1 Laurel Oaks DriveWinter Springs, FL 32708
552 1986 B B- White Eagle Property Group
Blue Roc Premier Properties
05/2015 $54.00 $101.02 $98K 2025 $43.20
Castle Woods1131 Castle Wood TerraceCasselberry, FL 32707
304 1993 B- C+ Dalcor CED Capital Holdings
04/2014 $17.70 $54.81 $58K 2030 $15.91
Reserve at Lake Irene1450 Sunshadow DriveCasselberry, FL 32707
384 1988 B B Landmark Apartment Trust of America
Fannie Mae - REO 11/2011 $18.45 $56.55 $48K
Park at Laurel Oaks, The1 Laurel Oaks DriveWinter Springs, FL 32708
552 1986 B B- Blue Roc Premier Properties
Jaymor Group 12/2005 $41.30 $77.26 $75K
Legends Winter Springs440 Courtney Springs CircleWinter Springs, FL 32708
252 1999 A- B Rock Companies Kaplan, Michael 09/2005 $27.22 $99.52 $108K
Longwood | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
MELBOURNE
ORLANDO MULTIFAMILYMARCH 2021
Melbourne submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
65 Properties
11,600 Units
B Average Location Rating
B Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
95.8%Occupancy Rate
March 2021
12th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
2.2%Y-o-Y Change
$1,251Average Rental Rate
March 2021
12th
Rank out of 53 Submarkets
13.7%Growth in 2021 -Projected Year End
1,518Units built in 2021 -Projected Year End
12th
Melbourne | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 4,212 550 4.8% 2.3% 0.8% 0.4% 0.1% 0.8% 1.1% 1.3%
Two Bedrooms 6,728 821 1.6% 0.8% 2.0% 1.3% -1.8% -1.7% 0.2% 1.0%
Three Bedrooms 1,413 1,181 3.4% 0.2% -2.1% -2.5% -4.0% -1.1% 0.7% 3.1%
Other 389 785 7.7% 5.2% 3.9% 3.4% 5.5% 4.3% 2.8% 4.4%
Overall 12,742 834 2.7% 1.3% 1.2% 0.7% -1.3% -0.8% 0.6% 1.5%
Rank out of 53 Submarkets
1.3%Y-o-Y Change
Q1 2021
11th
Rank out of 53 Submarkets
$1,075Average Rental Rate
Q1 2021
40th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
1%Y-o-Y Change
Q1 2021
22nd
Rank out of 53 Submarkets
$1,297Average Rental Rate
Q1 2021
41st
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
3.1%Y-o-Y Change
Q1 2021
13th
Rank out of 53 Submarkets
$1,654Average Rental Rate
Q1 2021
36th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Melbourne | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 9th/40 82.58% 2,110
2021 6th/29 41.71% 1,373
2022 N/A N/A N/A
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 26th/45 20.91% 2,339
2021 16th/33 12.64% 1,518
2022 N/A N/A N/A
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
4Properties
982Units
145Fully Affordable Units
Property Address # Units DeveloperSubmitted Date
Heritage Lakes of West Melbourne
Ellis Road & West Drive, Melbourne, FL 32904 275 Matthew Development 02/2019
Cocoa Grand West King Street & South Range Road, Cocoa, FL 32926
268 Trimback Construction 08/2020
Cocoa Lakes Redevelopment 201 Saint Clair Drive, Cocoa, FL 32922 50 Millennia Housing Companies 12/2018
3Properties
593Units
PROSPECTIVE PROPERTIES 3 Properties 80 Fully Affordable Units526 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Oasis at West Melbourne, The 220 Belgian Drive, West Melbourne, FL 32904
316 Picerne Real Estate Group 03/2019 04/2021 05/2020
Legacy at Oakwood Landing 2705 Bosque Circle, Melbourne, FL 32940
274 Legacy Residential Group 10/2019 08/2021 05/2020
Rockledge Flats 220 Barton Blvd, Rockledge, FL 32955
247 The Hutton Company 06/2020 09/2021
Venue at Viera Senior Living 2700 Anneleigh Circle Viera, Melbourne, FL 32940
145 Southern Affordable Services
08/2020 06/2021 11/2020
DEVELOPMENT ACTIVITY MARCH 2021
Melbourne | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
24 th Rank out of 53 Submarkets $162K Sale Price
per Unit
*partial year, ending March 2021
4 th Rank out of 53 Submarkets 3.2 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Highlands Viera West2185 Judge Fran Jamieson WayViera, FL 32940
240 2008 A B ConAm JMG Realty 03/2021 $60.00 $197.62 $250K $25.10
Lakeside Glen7670 Greenboro DriveMelbourne, FL 32904
232 1986 B- B- Priderock Capital Partners
Northland Investment Corporation
03/2021 $42.90 $175.76 $185K 2032 $30.75
Dunes, The201 Harbor City PkwyIndian Harbour Beach, FL 32937
200 1964 C+ B Tokarski, Christopher D.
Abacus Capital Group
10/2020 $29.80 $173.82 $149K 2032 $24.93
Harbour Pointe655 Rosewood CourtMelbourne, FL 32937
74 1974 B- B Tokarski, Christopher D.
Abacus Capital Group
10/2020 $12.20 $158.85 $165K 2032 $10.09
Ventura at Turtle Creek3802 Alafaya LaneRockledge, FL 32955
190 2019 A- B- Lewis Property Investors
Atlantic Housing Partners
09/2020 $38.75 $190.78 $204K 2032 $31.00
Polo Glen3603 Middleburg LaneRockledge, FL 32955
252 2008 B+ C+ Highland Capital Management
Continental Realty Advisors
12/2019 $55.25 $183.17 $219K 2030 $32.89
Costa de Cocoa Townhomes1010 North Fiske BlvdCocoa, FL 32922
50 1963 C C+ Knickerbocker Asset Management
Nikollaj, Krist 09/2019 $3.28 $75.24 $66K 2039 $2.46
Artisan at Viera, The2560 Judge Fran Jamieson WayMelbourne, FL 32940
259 2018 A B Preferred Apartment Communities
Davis Development 08/2019 $53.33 $192.38 $206K
Melbourne | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
METRO WEST
ORLANDO MULTIFAMILYMARCH 2021
Metro West submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
36 Properties
11,285 Units
B+ Average Location Rating
B+ Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
94.7%Occupancy Rate
March 2021
24th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
0.1%Y-o-Y Change
$1,355Average Rental Rate
March 2021
32nd
Rank out of 53 Submarkets
3.9%Growth in 2021 -Projected Year End
442Units built in 2021 -Projected Year End
27th
Metro West | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 5,766 794 1.6% 2.1% 1.5% 0.9% -0.1% -3.2% -4.0% -3.7%
Two Bedrooms 7,693 1,115 1.5% 0.3% 0.4% 1.5% 0.1% -1.2% -0.9% 0.3%
Three Bedrooms 2,469 1,378 1.2% -0.3% -1.7% 0.2% 0.3% 2.0% 4.3% 2.6%
Other 322 1,532 1.3% -2.4% -2.4% -4.1% -1.1% 1.3% 2.4% 3.3%
Overall 16,250 1,205 1.5% 0.7% 0.4% 1.0% 0.0% -1.4% -1.2% -0.8%
Rank out of 53 Submarkets
-3.7%Y-o-Y Change
Q1 2021
45th
Rank out of 53 Submarkets
$1,097Average Rental Rate
Q1 2021
38th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
0.3%Y-o-Y Change
Q1 2021
23rd
Rank out of 53 Submarkets
$1,448Average Rental Rate
Q1 2021
22nd
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
2.6%Y-o-Y Change
Q1 2021
18th
Rank out of 53 Submarkets
$1,787Average Rental Rate
Q1 2021
16th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Metro West | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 36th/40 6.11% 442
2021 24th/29 6.11% 442
2022 N/A N/A N/A
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 43rd/45 3.38% 442
2021 28th/33 3.38% 442
2022 N/A N/A N/A
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
2Properties
762Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
West Vue 6003 Raleigh Street, Orlando, FL 32835
442 RISE Real Estate 02/2020 05/2021 09/2020
Millenium MetroWest 6875 Piazza Grande Avenue, Orlando, FL 32835
320 Dinerstein Companies 02/2021 12/2022
Yardi® Matrix has no recorded planned properties in this Submarket
DEVELOPMENT ACTIVITY MARCH 2021
Metro West | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
27 th Rank out of 53 Submarkets $152K Sale Price
per Unit
*partial year, ending March 2021
2nd Rank out of 53 Submarkets 3.6 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Harbortown2333 Lake Debra DriveOrlando, FL 32835
428 1999 A A- LivCor JRK Property Holdings
12/2020 $100.00 $204.10 $234K
Vista Verde1658 South Hiawassee RoadOrlando, FL 32835
200 1990 B B+ ConAm Delgado, Luis E. 10/2020 $34.15 $182.04 $171K 2030 $22.30
Residences at Veranda Park, The2121 South Hiawassee RoadOrlando, FL 32835
150 2008 A B Westside Capital Group
Armco Communities 06/2020 $45.00 $258.29 $300K 2030 $24.81
Indigo West6101 Raleigh StreetOrlando, FL 32835
456 1997 B+ C+ LivCor Bridge Investment Group
03/2020 $90.50 $182.31 $198K
Marina Landing6315 Westgate DriveOrlando, FL 32835
260 1990 B+ C+ Horizon Realty Advisors
Lindemann Multifamily Management
07/2019 $39.75 $169.19 $153K 2029 $27.83
Amara at MetroWest6168 Raleigh StreetOrlando, FL 32835
411 1997 A- C+ LivCor Bridge Investment Group
05/2019 $72.80 $142.50 $177K 2026 $51.81
Ellery at Lake Sherwood8008 Balasands BlvdOrlando, FL 32818
298 2002 A B ConAm Carroll Organization 04/2019 $58.10 $177.72 $195K 2026 $37.26
Willow Key5590 Arnold Palmer DriveOrlando, FL 32811
384 1999 B B+ Levy Affiliated Picerne Real Estate Group
03/2019 $32.74 $76.67 $85K 2054 $30.42
Fourteen011401 Kirkman RoadOrlando, FL 32811
472 1989 B+ B+ TruAmerica Multifamily
Michaelson Group 02/2019 $64.00 $149.86 $136K 2029 $44.80
Metro West | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
MT DORA
ORLANDO MULTIFAMILYMARCH 2021
Mt Dora submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
19 Properties
2,470 Units
B- Average Location Rating
B- Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
98.4%Occupancy Rate
March 2021
2nd
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
4.2%Y-o-Y Change
$1,064Average Rental Rate
March 2021
6th
Rank out of 53 Submarkets
12.9%Growth in 2021 -Projected Year End
318Units built in 2021 -Projected Year End
16th
Mt Dora | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 1,146 699 6.1% 7.4% 8.1% 8.1% 7.1% 5.0% 3.0% 2.8%
Two Bedrooms 1,176 915 15.1% 12.0% 5.5% 2.6% -2.9% -0.5% 4.3% 4.5%
Three Bedrooms 327 1,193 2.1% 5.2% 7.6% 1.8% 2.1% 2.3% 3.7% 7.7%
Other 56 810 -2.8% 6.6% 7.4% 16.7% 20.2% 9.7% 9.3% 0.4%
Overall 2,705 904 9.9% 9.4% 6.7% 4.9% 1.8% 2.1% 3.8% 4.1%
Rank out of 53 Submarkets
2.8%Y-o-Y Change
Q1 2021
4th
Rank out of 53 Submarkets
$917Average Rental Rate
Q1 2021
46th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
4.5%Y-o-Y Change
Q1 2021
5th
Rank out of 53 Submarkets
$1,162Average Rental Rate
Q1 2021
45th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
7.7%Y-o-Y Change
Q1 2021
3rd
Rank out of 53 Submarkets
$1,503Average Rental Rate
Q1 2021
43rd
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Mt Dora | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years N/A N/A ** 448
2021 8th/29 40.00% 208
2022 N/A N/A N/A
* among submarkets with completions in this period**Inventory growth not computed due to low initial
inventory
Ranked * Growth # Units
Last 5 Years 15th/45 33.65% 702
2021 15th/33 12.87% 318
2022 N/A N/A N/A
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
2Properties
318Units
Property Address # Units DeveloperSubmitted Date
Indian Springs Britt Road & Wolf Branch Road, Mount Dora, FL 32757
100 Dewar Nurseries 04/2018
1Property
100Units
PROSPECTIVE PROPERTIES 4 Properties 224 Fully Affordable Units378 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Atwater Phase II 2570 Ann Rou Road, Tavares, FL 32778
208 Cagan Management Group 05/2020 05/2021 03/2021
Valencia Grove Phase II 551 Huffstetler Drive, Eustis, FL 32726
110 Housing Trust Group 08/2020 06/2021
DEVELOPMENT ACTIVITY MARCH 2021
Mt Dora | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
47 th Rank out of 53 Submarkets $89K Sale Price
per Unit
*partial year, ending March 2021
28 th Rank out of 53 Submarkets 1.0 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
City Walk Villas1515 Lincoln AvenueMount Dora, FL 32757
65 1981 C B- Polsinelli, Kenneth P.
Biggins, Joseph F. 02/2020 $5.90 $97.96 $91K 2035 $4.40
City Walk Villas1515 Lincoln AvenueMount Dora, FL 32757
65 1981 C B- Biggins, Joseph F. Hampton, Frank & Willa
03/2019 $2.86 $47.48 $44K $1.50
Elevate 155155 Veranda WayMount Dora, FL 32757
208 2004 B B Curtis, Dean Rath, Harper & Associates
01/2019 $23.75 $137.76 $114K
Oak Wood350 Lincoln AvenueMount Dora, FL 32757
72 1973 C B- Millennia Housing Companies
Global Ministries Foundation
11/2018 $5.50 $99.99 $76K 2019 $5.50
Spring Harbor2500 Spring Harbor CircleMount Dora, FL 32757
248 2000 B C+ Starwood Capital Group
AGPM 03/2018 $19.40 $71.11 $78K
Tanglewood2811 Ruleme StreetEustis, FL 32726
138 1972 C C+ Tzadik Management ResProp Management
10/2014 $4.45 $54.72 $32K
Mount Dora3001 Northland RoadMount Dora, FL 32757
132 1988 C+ C+ Tzadik Management ResProp Management
10/2014 $4.90 $62.49 $37K
Oak Wood350 Lincoln AvenueMount Dora, FL 32757
72 1973 C B- Global Ministries Foundation
Miami Mar 06/2014 $5.26 $95.64 $73K 2049
Mount Dora3001 Northland RoadMount Dora, FL 32757
132 1988 C+ C+ ResProp Management
Freddie Mac - REO 04/2012 $1.25 $15.94 $9K
Mt Dora | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
OAK RIDGE
ORLANDO MULTIFAMILYMARCH 2021
Oak Ridge submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
47 Properties
13,812 Units
B- Average Location Rating
B+ Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
94.2%Occupancy Rate
March 2021
29th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
0.3%Y-o-Y Change
$1,273Average Rental Rate
March 2021
29th
Rank out of 53 Submarkets
3.9%Growth in 2021 -Projected Year End
545Units built in 2021 -Projected Year End
26th
Oak Ridge | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 6,467 752 6.2% 4.7% 4.4% 0.2% -3.4% -5.0% -5.3% -2.3%
Two Bedrooms 8,825 1,064 1.3% 1.9% 2.5% 2.3% 0.3% -1.2% -1.8% 0.1%
Three Bedrooms 2,629 1,271 0.0% 1.6% 4.2% 2.2% 2.0% 0.4% -0.6% 0.3%
Other 1,410 911 12.9% 8.9% 7.2% 5.8% 4.6% 7.1% 5.6% -1.1%
Overall 19,331 1,000 3.1% 3.0% 3.5% 1.6% -0.8% -2.3% -2.8% -0.7%
Rank out of 53 Submarkets
-2.3%Y-o-Y Change
Q1 2021
37th
Rank out of 53 Submarkets
$1,105Average Rental Rate
Q1 2021
35th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
0.1%Y-o-Y Change
Q1 2021
24th
Rank out of 53 Submarkets
$1,345Average Rental Rate
Q1 2021
36th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
0.3%Y-o-Y Change
Q1 2021
31st
Rank out of 53 Submarkets
$1,626Average Rental Rate
Q1 2021
37th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Oak Ridge | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 28th/40 25.97% 1,510
2021 22nd/29 8.04% 545
2022 N/A N/A N/A
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 38th/45 11.21% 1,510
2021 26th/33 3.77% 545
2022 18th/18 0.73% 110
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
3Properties
655Units
110Fully Affordable Units
Property Address # Units DeveloperSubmitted Date
Millenia Park West Oak Ridge Road & South John Young Pkwy, Belle Isle, FL 32809
960 Master Real Estate 08/2019
Gardens on Millenia 3692 Cathy Street, Orlando, FL 32839 350 BBX Capital 10/2018
2Properties
1,310Units
PROSPECTIVE PROPERTIES 8 Properties 536 Fully Affordable Units1,092 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Altaire at Millenia 5450 Millenia Lakes Blvd, Orlando, FL 32839
330 Barings 01/2020 07/2021 09/2020
Park Central 2429 Americana Blvd, Orlando, FL 32839
215 Encore Enterprises 02/2020 04/2021
Madison Landing Senior 5800 Rio Grande Avenue, Orlando, FL 32809
110 American Realty Development
11/2020 12/2021 02/2021
DEVELOPMENT ACTIVITY MARCH 2021
Oak Ridge | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
38 th Rank out of 53 Submarkets $125K Sale Price
per Unit
*partial year, ending March 2021
1 st Rank out of 53 Submarkets 3.8 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Isles at East Millenia1980 Lake Fountain DriveOrlando, FL 32839
200 1985 B+ C- Laguna Point Properties
Blue Roc Premier Properties
12/2019 $26.00 $149.19 $130K 2030 $19.29
Reserve at Lake Buchanan1717 West Holden AvenueOrlando, FL 32839
151 1970 B- C- S2 Residential Creative Realty Partners
10/2019 $16.05 $136.51 $106K 2022 $13.74
Northbridge at Millenia Lake4902 Millenia BlvdOrlando, FL 32839
607 2004 B+ A- Venterra Realty Waterton 09/2019 $104.00 $136.03 $171K 2029 $67.80
Landing at East Mil, The4937 Waterway CourtOrlando, FL 32839
360 1986 B- C S2 Residential American Opportunity Foundation, The
11/2018 $30.70 $102.74 $85K $29.31
Lorenzo At East Mil1968 Lake Heritage CircleOrlando, FL 32839
400 1986 B C S2 Residential Carroll Organization 11/2018 $46.85 $132.67 $117K 2020 $40.33
Addison on Millenia, The4673 Gardens Park BlvdOrlando, FL 32839
292 2017 A- B Lindemann Multifamily Management
ContraVest 10/2018 $62.62 $230.42 $214K 2028 $38.23
Caden at East Mil, The1989 Americana BlvdOrlando, FL 32839
768 1973 B- B- S2 Residential NRInvestments 09/2018 $56.85 $96.61 $74K 2020 $122.56
Palmetto at East Mil4444 South Rio Grande AvenueOrlando, FL 32839
558 1972 B+ C- S2 Residential NRInvestments 09/2018 $40.15 $97.50 $72K 2020 $122.56
Oak Ridge | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
ORANGE LAKE
ORLANDO MULTIFAMILYMARCH 2021
Orange Lake submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
9 Properties
3,384 Units
B Average Location Rating
A- Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
86.6%Occupancy Rate
March 2021
53rd
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
-2.2%Y-o-Y Change
$1,520Average Rental Rate
March 2021
41st
Rank out of 53 Submarkets
34.5%Growth in 2021 -Projected Year End
1,046Units built in 2021 -Projected Year End
4th
Orange Lake | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 1,248 789 3.3% 2.5% 3.0% 1.8% -3.1% -3.6% -5.1% -3.5%
Two Bedrooms 2,448 1,114 6.7% 4.3% -0.7% -0.6% -2.9% -6.5% -5.3% -3.1%
Three Bedrooms 776 1,317 4.2% 1.1% -2.4% -5.2% -8.7% -9.4% -7.2% -1.9%
Overall 4,472 1,073 5.6% 3.4% -0.2% -0.9% -4.1% -6.5% -5.6% -3.0%
Rank out of 53 Submarkets
-3.5%Y-o-Y Change
Q1 2021
43rd
Rank out of 53 Submarkets
$1,329Average Rental Rate
Q1 2021
9th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
-3.1%Y-o-Y Change
Q1 2021
42nd
Rank out of 53 Submarkets
$1,534Average Rental Rate
Q1 2021
10th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
-1.9%Y-o-Y Change
Q1 2021
44th
Rank out of 53 Submarkets
$1,798Average Rental Rate
Q1 2021
15th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Orange Lake | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 10th/40 80.96% 1,386
2021 4th/29 50.97% 1,046
2022 N/A N/A N/A
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 10th/45 51.52% 1,386
2021 4th/33 34.52% 1,046
2022 N/A N/A N/A
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
2Properties
692Units
Property Address # Units DeveloperSubmitted Date
Registry on Grass Lake, The 14544 Avalon Road, Winter Garden, FL 34787 360 Brossier Company 10/2018
Avalon Road & Old YMCA Road Avalon Road & Old YMCA Road, Winter Garden, FL 34787
350 Wood Partners 12/2019
Waterstar 7991 West Irlo Bronson Memorial Hwy, Kissimmee, FL 34747
320 Madison Capital Group 02/2019
Avalon Pointe Avalon Road & Grove Blossom Way, Winter Garden, FL 34787
300 Alliance Residential Company 05/2020
+ 1 More Properties 202
5Properties
1,532Units
PROSPECTIVE PROPERTIES 7 Properties 2,300 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Westerly, The 14680 Westerly Drive, Winter Garden, FL 34787
352 Fore Property Company 11/2019 08/2021 09/2020
Vintage Horizon West 9223 Vintage Hills Way, Winter Garden, FL 34787
340 TDK Construction 03/2020 08/2021 11/2020
DEVELOPMENT ACTIVITY MARCH 2021
Orange Lake | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
20 th Rank out of 53 Submarkets $167K Sale Price
per Unit
*partial year, ending March 2021
33 rd Rank out of 53 Submarkets 0.6 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Abaco Key10712 Mystic CircleOrlando, FL 32836
373 1995 B B- Harbor Group International
Aragon Holdings 01/2020 $71.94 $200.00 $193K
IMT Sonoma Hills14619 Casita RidgeWinter Garden, FL 34787
340 2018 A- B- IMT Capital RockHarbor Investments
01/2019 $73.00 $211.16 $215K
Buena Vista Place8825 Buena PlaceWindermere, FL 34786
340 1999 B+ B Starwood Capital Group
AGPM 12/2017 $31.94 $104.53 $94K
Citra at Windermere11353 Citra CircleWindermere, FL 34786
360 2014 A A- JRK Property Holdings
Ram Real Estate 01/2015 $61.50 $146.93 $171K 2025 $49.50
Post Lakeside7826 Crosswater TrailWindermere, FL 34786
300 2013 A A- MAA Greenfield Partners 05/2013 $48.40 $150.73 $161K
Abaco Key10712 Mystic CircleOrlando, FL 32836
373 1995 B B- Aragon Holdings DeBartolo Development
06/2012 $35.00 $97.30 $94K
Abaco Key10712 Mystic CircleOrlando, FL 32836
373 1995 B B- DeBartolo Development
Cornerstone Real Estate Advisors
02/2010 $8.60 $23.91 $23K
Alexandria Parc Vue10649 Bastille LaneOrlando, FL 32836
672 2000 A B- Equity Residential CalSTRS 12/2005 $98.50 $133.73 $147K
Alexandria Parc Vue10649 Bastille LaneOrlando, FL 32836
672 2000 A B- CalSTRS AG Spanos Companies
10/2002 $24.18 $32.83 $36K
Orange Lake | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
ORLANDO - DOWNTOWN
ORLANDO MULTIFAMILYMARCH 2021
Orlando - Downtown submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
22 Properties
5,752 Units
B Average Location Rating
A- Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
88.8%Occupancy Rate
March 2021
51st
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
-2.5%Y-o-Y Change
$1,693Average Rental Rate
March 2021
43rd
Rank out of 53 Submarkets
21.7%Growth in 2021 -Projected Year End
1,158Units built in 2021 -Projected Year End
7th
Orlando - Downtown | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 3,699 713 2.9% 2.7% 1.7% -2.9% -7.0% -9.2% -8.5% -5.1%
Two Bedrooms 2,373 988 0.5% -0.3% -1.3% -2.4% -5.3% -4.5% -2.4% -1.8%
Three Bedrooms 362 1,432 -0.5% -0.6% -2.9% 3.2% 1.2% 3.0% 4.4% -4.6%
Other 854 668 -1.1% 0.1% -1.2% -5.0% -1.9% -0.3% 0.2% 2.0%
Overall 7,288 950 1.4% 1.0% 0.3% -1.8% -5.0% -5.9% -4.9% -3.8%
Rank out of 53 Submarkets
-5.1%Y-o-Y Change
Q1 2021
49th
Rank out of 53 Submarkets
$1,492Average Rental Rate
Q1 2021
3rd
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
-1.8%Y-o-Y Change
Q1 2021
37th
Rank out of 53 Submarkets
$1,886Average Rental Rate
Q1 2021
2nd
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
-4.6%Y-o-Y Change
Q1 2021
48th
Rank out of 53 Submarkets
$2,456Average Rental Rate
Q1 2021
2nd
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Orlando - Downtown | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 18th/40 58.42% 2,372
2021 13th/29 21.96% 1,158
2022 6th/15 17.48% 1,124
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 11th/45 49.06% 2,372
2021 8th/33 19.14% 1,158
2022 4th/18 15.60% 1,124
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
6Properties
1,873Units
Property Address # Units DeveloperSubmitted Date
Altis Lake Willis 10055 Almondwood Circle, Orlando, FL 32821 567 Altman Companies 12/2019
Monarch 322 East Jackson Street, Orlando, FL 32801 400 Jaymor Group 06/2020
500 North Orange Avenue 500 North Orange Avenue, Orlando, FL 32801 398 West Second Street Associates 07/2015
Tribune 501 North Orange Avenue, Orlando, FL 32801 318 Midtown Opportunities 01/2021
+ 3 More Properties 799
7Properties
2,482Units
PROSPECTIVE PROPERTIES 12 Properties 3,026 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Radius 108 East Livingston, Orlando, FL 32801
389 Banner Real Estate Group 04/2019 05/2021
Orange & Robinson 336 North Orange Avenue, Orlando, FL 32801
368 MAA 04/2020 12/2021
Camden Lake Eola 520 East Church Street, Orlando, FL 32801
360 Camden Property Trust 02/2019 05/2021 02/2021
Modera Creative Village 505 Chatham Avenue, Orlando, FL 32801
292 Mill Creek Residential Trust 09/2020 04/2022
+ 2 More Properties 464
DEVELOPMENT ACTIVITY MARCH 2021
Orlando - Downtown | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
4 th Rank out of 53 Submarkets $234K Sale Price
per Unit
*partial year, ending March 2021
23 rd Rank out of 53 Submarkets 1.0 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
SteelHouse750 North Orange AvenueOrlando, FL 32801
326 2013 A- B Cypress Real Estate Advisors
Mesirow Financial 04/2019 $68.25 $269.44 $209K $50.25
Camden Thornton Park420 East Church StreetOrlando, FL 32801
299 2016 A B Camden Property Trust
Jefferson Apartment Group
09/2018 $89.00 $322.61 $298K
Camden North Quarter777 North Orange AvenueOrlando, FL 32801
333 2016 A+ B Camden Property Trust
Pizzuti 02/2018 $80.75 $301.04 $242K
Paramount on Lake Eola, The415 East Pine StreetOrlando, FL 32801
280 2008 A B Northland Investment Corporation
Obligo Real Estate 05/2017 $57.78 $203.77 $219K $59.67
55 West55 West Church StreetOrlando, FL 32801
461 2014 A+ B LivCor TA Realty 04/2017 $105.00 $201.49 $228K
Central Station on Orange480 North Orange AvenueOrlando, FL 32801
279 2016 A- B UBS Realty Investors Crescent Communities
01/2016 $59.00 $244.73 $211K
SteelHouse750 North Orange AvenueOrlando, FL 32801
326 2013 A- B Mesirow Financial RangeWater Real Estate
07/2013 $59.00 $232.92 $181K 2018 $38.50
55 West55 West Church StreetOrlando, FL 32801
461 2014 A+ B TA Realty SNSPF Interim Finance B.V. - REO
04/2011 $75.00 $143.92 $163K
Westminster Plaza350 East Jackson StreetOrlando, FL 32801
198 1968 C B Westminster Communities of Florida
Smith, George E. 11/2010 $7.00 $67.01 $35K $1.10
Orlando - Downtown | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
ORLANDO - EDGEWOOD
ORLANDO MULTIFAMILYMARCH 2021
Orlando - Edgewood submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
6 Properties
1,458 Units
C+ Average Location Rating
B Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
90.5%Occupancy Rate
March 2021
50th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
-4.8%Y-o-Y Change
$1,272Average Rental Rate
March 2021
49th
Rank out of 53 Submarkets
0.0%Growth in 2021 -Projected Year End
N/AUnits built in 2021 -Projected Year End
N/A
Orlando - Edgewood | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 1,023 738 -0.6% -3.4% -1.1% 3.0% 0.3% -3.0% -6.5% -7.8%
Two Bedrooms 533 1,102 -1.2% -1.6% -3.8% 1.3% -2.9% -2.3% 1.2% -1.8%
Three Bedrooms 88 1,416 1.1% -5.0% -5.8% -3.2% -6.0% 1.5% 5.8% 0.7%
Overall 1,644 1,085 -0.7% -2.8% -2.6% 1.8% -1.5% -2.5% -2.8% -4.9%
Rank out of 53 Submarkets
-7.8%Y-o-Y Change
Q1 2021
52nd
Rank out of 53 Submarkets
$1,123Average Rental Rate
Q1 2021
30th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
-1.8%Y-o-Y Change
Q1 2021
38th
Rank out of 53 Submarkets
$1,438Average Rental Rate
Q1 2021
24th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
0.7%Y-o-Y Change
Q1 2021
29th
Rank out of 53 Submarkets
$1,906Average Rental Rate
Q1 2021
10th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Orlando - Edgewood | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 21st/40 46.58% 300
2021 N/A N/A N/A
2022 N/A N/A N/A
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 20th/45 25.91% 300
2021 N/A N/A N/A
2022 N/A N/A N/A
Lifestyle Inventory Growth
Overall Inventory Growth
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
Yardi® Matrix has no recorded under construction properties in this Submarket
Yardi® Matrix has no recorded planned properties in this Submarket
DEVELOPMENT ACTIVITY MARCH 2021
Orlando - Edgewood | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
40 th Rank out of 53 Submarkets $123K Sale Price
per Unit
*partial year, ending March 2021
29 th Rank out of 53 Submarkets 0.8 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Mark at SoDo, The3435 South Orange AvenueOrlando, FL 32806
258 1973 C B- Polsinelli, Kenneth P.
Covenant Capital Group
03/2021 $29.20 $229.67 $113K 2030 $21.14
Beverly at East Mil, The1182 Redman StreetOrlando, FL 32839
336 1974 A- C- S2 Residential NRInvestments 09/2018 $27.50 $96.80 $82K 2020 $122.56
Lofts at SoDo, The100 West Grant StreetOrlando, FL 32806
308 2009 A B Nuveen Real Estate Mesirow Financial 05/2018 $66.50 $223.50 $216K
Palm Grove1200 Holden AvenueOrlando, FL 32839
140 1966 C+ C- ESO Equity Group R Investments 05/2018 $10.15 $78.38 $72K $8.75
Mark at SoDo, The3435 South Orange AvenueOrlando, FL 32806
258 1973 C B- Covenant Capital Group
H & H Realty 12/2016 $16.25 $127.84 $63K 2021 $12.20
Palm Grove1200 Holden AvenueOrlando, FL 32839
140 1966 C+ C- R Investments MUFG Union Bank - REO
01/2016 $7.00 $54.05 $50K
Lofts at SoDo, The100 West Grant StreetOrlando, FL 32806
308 2009 A B Mesirow Financial Wood Partners 12/2013 $50.85 $170.91 $165K $33.10
Palm Grove1200 Holden AvenueOrlando, FL 32839
140 1966 C+ C- Win Capital Group Santiago, Rudy G. 06/2013 $7.65 $59.07 $55K
Beverly at East Mil, The1182 Redman StreetOrlando, FL 32839
336 1974 A- C- NRInvestments Wachovia Bank - REO
02/2011 $4.10 $14.43 $12K
Orlando - Edgewood | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
ORLANDO - FLORIDA CENTER
ORLANDO MULTIFAMILYMARCH 2021
Orlando - Florida Center submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
4 Properties
1,286 Units
A- Average Location Rating
A- Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
92.7%Occupancy Rate
March 2021
44th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
*Inventory growth not computed due to low initial inventory - See Page 4 for completion unit counts
Rank out of 50 Submarkets
0.2%Y-o-Y Change
$1,651Average Rental Rate
March 2021
30th
Rank out of 53 Submarkets
70.5%Growth in 2021 -Projected Year End
674Units built in 2021 -Projected Year End
2nd
Orlando - Florida Center | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 786 687 1.9% 1.7% 1.0% -4.6% -1.7% -0.4% -4.5% -4.5%
Two Bedrooms 829 959 2.1% 13.1% 18.7% 15.9% 0.9% -7.0% -6.6% -2.4%
Three Bedrooms 159 1,011 0.0% 11.8% 18.3% 16.5% 6.9% 0.4% -4.5% -1.2%
Other 538 187 -1.4% 2.2% 2.2% 0.6% -4.0% -4.9% -0.4% 10.0%
Overall 2,312 711 1.7% 7.9% 10.6% 6.6% 0.3% -3.7% -5.4% -2.7%
Rank out of 53 Submarkets
-4.5%Y-o-Y Change
Q1 2021
48th
Rank out of 53 Submarkets
$1,383Average Rental Rate
Q1 2021
6th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
-2.4%Y-o-Y Change
Q1 2021
40th
Rank out of 53 Submarkets
$1,765Average Rental Rate
Q1 2021
5th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
-1.2%Y-o-Y Change
Q1 2021
41st
Rank out of 53 Submarkets
$2,015Average Rental Rate
Q1 2021
8th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Orlando - Florida Center | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 6th/40 86.41% 674
2021 2nd/29 86.41% 674
2022 1st/15 72.90% 1,060
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 5th/45 70.50% 674
2021 2nd/33 70.50% 674
2022 1st/18 65.03% 1,060
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
4Properties
1,404Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Deseo Grande 5250 International Drive, Orlando, FL 32819
365 Electra America 10/2020 04/2022
Legacy Universal 7488 Universal Blvd, Orlando, FL 32819
350 Legacy Partners 09/2020 03/2022
Silver Hills at Universal 5885 Lakehurst Drive, Orlando, FL 32819
345 Edwards Companies 10/2020 03/2022
Addison at Universal Boulevard, The
9707 Mia Circle, Orlando, FL 32819
344 ContraVest 08/2017 04/2021 03/2019
Yardi® Matrix has no recorded planned properties in this Submarket
DEVELOPMENT ACTIVITY MARCH 2021
Orlando - Florida Center | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
16 th Rank out of 53 Submarkets $179K Sale Price
per Unit
*partial year, ending March 2021
31 st Rank out of 53 Submarkets 0.6 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Courtney at Universal Boulevard, The9703 Avellino AvenueOrlando, FL 32819
355 2016 A- B+ LivCor ContraVest 04/2019 $77.75 $225.79 $219K
Fusion Orlando7975 Canada AvenueOrlando, FL 32819
176 1984 B B+ Lighthouse Group, The
Equity Management Partners
04/2019 $14.40 $9.56
District Universal Boulevard, The9702 Universal BlvdOrlando, FL 32819
425 2009 A- B+ Venterra Realty Monogram Residential Trust
03/2017 $78.50 $196.00 $185K $51.20
Fusion Orlando7975 Canada AvenueOrlando, FL 32819
176 1984 B B+ Equity Management Partners
LNR Partners - REO 12/2016 $9.71 $5.00
District Universal Boulevard, The9702 Universal BlvdOrlando, FL 32819
425 2009 A- B+ Monogram Residential Trust
Perennial Properties
12/2010 $56.00 $139.82 $132K
Fusion Orlando7975 Canada AvenueOrlando, FL 32819
176 1984 B B+ Vilardo, Richard L. Ashford Hospitality Trust
03/2006 $15.20
Fusion Orlando7975 Canada AvenueOrlando, FL 32819
176 1984 B B+ Ashford Hospitality Trust
N/A 06/2005 $17.32
Fusion Orlando7975 Canada AvenueOrlando, FL 32819
176 1984 B B+ N/A N/A 12/2003 $18.40
Orlando - Florida Center | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
ORLANDO - FLORIDA CENTER NORTHORLANDO MULTIFAMILYMARCH 2021
Orlando - Florida Center North submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
14 Properties
3,330 Units
A- Average Location Rating
B Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
96.2%Occupancy Rate
March 2021
7th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Matrix has no recorded development activity for this submarket in the last 10 years.Yardi®
Rank out of 50 Submarkets
-4.0%Y-o-Y Change
$1,235Average Rental Rate
March 2021
48th
Orlando - Florida Center North | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 2,413 686 6.7% 3.1% 2.4% 2.7% -1.6% -2.9% -5.0% -5.4%
Two Bedrooms 2,064 962 5.0% 4.2% 3.1% 2.0% -2.0% -6.1% -7.1% -5.4%
Three Bedrooms 490 1,193 2.9% -1.0% -1.4% 2.0% -2.8% -3.7% -2.4% -1.8%
Other 150 706 9.4% 3.2% -1.5% -1.6% -0.6% 0.0% -1.3% -4.8%
Overall 5,117 887 5.6% 3.1% 2.1% 2.2% -1.8% -4.1% -5.4% -4.8%
Rank out of 53 Submarkets
-5.4%Y-o-Y Change
Q1 2021
51st
Rank out of 53 Submarkets
$1,074Average Rental Rate
Q1 2021
41st
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
-5.4%Y-o-Y Change
Q1 2021
50th
Rank out of 53 Submarkets
$1,346Average Rental Rate
Q1 2021
35th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
-1.8%Y-o-Y Change
Q1 2021
43rd
Rank out of 53 Submarkets
$1,679Average Rental Rate
Q1 2021
32nd
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Orlando - Florida Center North | Orlando Multifamily | 3
DEVELOPMENT ACTIVITY MARCH 2021
Yardi® Matrix has no recorded development activity for this submarket; current, historic, or projected 2016 - 2022
Orlando - Florida Center North | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
32nd Rank out of 53 Submarkets $136K Sale Price
per Unit
*partial year, ending March 2021
50 th Rank out of 53 Submarkets 0.2 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Palio4000 Middlebrook RoadOrlando, FL 32811
320 2001 A A- McKinley Properties Stoneleigh Companies
04/2017 $43.60 $143.82 $136K 2018 $45.00
Amalfi4860 Cypress Woods DriveOrlando, FL 32811
252 1989 B+ A- McKinley Properties TVO Groupe 05/2016 $25.50 $129.79 $101K
Affinity at Millenia4708 Olive Branch RoadOrlando, FL 32811
304 1986 B A- Avanath Capital Management
Karlin Real Estate 03/2015 $29.90 $119.65 $98K 2022 $25.80
Acclaim at Conroy4901 Cason Cove DriveOrlando, FL 32811
172 1997 A- A- Avanath Capital Management
CED Capital Holdings
02/2014 $12.50 $77.53 $73K 2021 $7.90
Bella Vita4700 Cason Cove DriveOrlando, FL 32811
352 1997 A- A McKinley Properties CED Capital Holdings
12/2013 $28.50 $78.82 $81K $29.53
Bella Capri4822 Cason Cove DriveOrlando, FL 32811
248 1994 B A- McKinley Properties CED Capital Holdings
11/2013 $14.88 $65.16 $60K $15.30
Palio4000 Middlebrook RoadOrlando, FL 32811
320 2001 A A- Stoneleigh Companies
Capri Capital Partners
02/2013 $31.68 $104.50 $99K
Affinity at Millenia4708 Olive Branch RoadOrlando, FL 32811
304 1986 B A- Karlin Real Estate ConAm 08/2011 $23.35 $93.44 $77K
Riva4771 Walden CircleOrlando, FL 32811
278 1974 C+ A- McKinley Properties Lambert, Daniel 12/2007 $9.00 $43.34 $32K
Orlando - Florida Center North | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
ORLANDO - HOLDEN HEIGHTSORLANDO MULTIFAMILYMARCH 2021
Orlando - Holden Heights submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
15 Properties
2,166 Units
B- Average Location Rating
B- Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
88.3%Occupancy Rate
March 2021
52nd
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
7.1%Y-o-Y Change
$1,124Average Rental Rate
March 2021
1st
Rank out of 53 Submarkets
0.0%Growth in 2021 -Projected Year End
N/AUnits built in 2021 -Projected Year End
N/A
Orlando - Holden Heights | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 638 567 16.8% 16.9% 18.2% 15.8% 5.8% 4.2% 4.7% 0.6%
Two Bedrooms 1,718 712 6.5% 9.1% 11.9% 12.2% 14.2% 9.5% 6.6% 7.7%
Three Bedrooms 553 1,039 7.8% 9.7% 9.3% 7.0% 10.6% 5.7% 6.1% 8.3%
Overall 2,909 773 8.8% 10.7% 12.3% 11.4% 11.4% 7.4% 6.1% 6.5%
Rank out of 53 Submarkets
0.6%Y-o-Y Change
Q1 2021
20th
Rank out of 53 Submarkets
$943Average Rental Rate
Q1 2021
45th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
7.7%Y-o-Y Change
Q1 2021
1st
Rank out of 53 Submarkets
$1,101Average Rental Rate
Q1 2021
48th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
8.3%Y-o-Y Change
Q1 2021
1st
Rank out of 53 Submarkets
$1,302Average Rental Rate
Q1 2021
49th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Orlando - Holden Heights | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years N/A N/A ** 200
2021 N/A N/A ** N/A
2022 N/A N/A ** N/A
* among submarkets with completions in this period**Inventory growth not computed due to low initial
inventory
Ranked * Growth # Units
Last 5 Years 23rd/45 22.73% 440
2021 N/A N/A N/A
2022 N/A N/A N/A
Lifestyle Inventory Growth
Overall Inventory Growth
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
Property Address # Units DeveloperSubmitted Date
Parramore Oaks Phase II 750 South Parramore Avenue, Orlando, FL 32805
91 InVictus Development 04/2020
1Property
91Units
91Fully Affordable Units
PROSPECTIVE PROPERTIES 1 Property 58 Units
Yardi® Matrix has no recorded under construction properties in this Submarket
DEVELOPMENT ACTIVITY MARCH 2021
Orlando - Holden Heights | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
48 th Rank out of 53 Submarkets $76K Sale Price
per Unit
*partial year, ending March 2021
27 th Rank out of 53 Submarkets 1.0 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Kara West3024 South Rio Grande AvenueOrlando, FL 32806
188 1975 C C- Dasmen Residential Amzak Capital Management
03/2021 $18.97 $110.68 $126K 2031 $13.16
Orlando on the Lake701 South Ivey LaneOrlando, FL 32811
189 1974 C B- Dasmen Residential Lohman, Ty G. 01/2021 $18.00 $125.43 $95K 2023 $16.50
Orlando on the Lake701 South Ivey LaneOrlando, FL 32811
189 1974 C B- Lohman, Ty G. Bronstein, Hillel 05/2018 $9.50 $66.20 $50K $7.60
Kara West3024 South Rio Grande AvenueOrlando, FL 32806
188 1975 C C- Amzak Capital Management
Lohman, Ty G. 02/2018 $10.21 $47.86 $54K
Timber Sound4963 Raleigh StreetOrlando, FL 32811
240 1996 B+ C+ Lincoln Avenue Capital
Leland Enterprises 10/2017 $18.50 $71.14 $77K 2052 $19.69
Kara West3024 South Rio Grande AvenueOrlando, FL 32806
188 1975 C C- Lohman, Ty G. Brown, Barry 05/2015 $6.63 $31.06 $35K $5.30
Orlando on the Lake701 South Ivey LaneOrlando, FL 32811
189 1974 C B- Bronstein, Hillel Potomac Realty Capital - REO
12/2011 $1.50 $10.45 $8K
Kara West3024 South Rio Grande AvenueOrlando, FL 32806
188 1975 C C- Brown, Barry Regions Bank - REO 11/2010 $2.50 $11.72 $13K
Crossroads4381 Crossroads CourtOrlando, FL 32811
94 1984 C+ A- Southport Financial Services
Demetree Brothers 09/2010 $4.15 $50.32 $44K 2027 $5.25
Orlando - Holden Heights | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
ORLANDO - NORTH ORANGE
ORLANDO MULTIFAMILYMARCH 2021
Orlando - North Orange submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
4 Properties
855 Units
B- Average Location Rating
B+ Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
91.7%Occupancy Rate
March 2021
49th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
*Inventory growth not computed due to low initial inventory - See Page 4 for completion unit counts
Rank out of 50 Submarkets
-9.4%Y-o-Y Change
$1,872Average Rental Rate
March 2021
50th
Rank out of 53 Submarkets
131.9%Growth in 2021 -Projected Year End
1,128Units built in 2021 -Projected Year End
1st
Orlando - North Orange | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 515 374 1.3% 1.7% 4.0% 8.6% 0.9% -5.1% -9.0% -12.7%
Two Bedrooms 352 410 9.5% 9.9% 7.7% -0.8% -8.6% -10.9% -10.3% -9.2%
Three Bedrooms 59 1,283 1.7% -2.3% -5.2% -6.1% -2.4% -1.7% -1.3% 0.5%
Overall 926 689 4.8% 4.8% 4.8% 3.2% -3.5% -7.3% -8.9% -10.1%
Rank out of 53 Submarkets
-12.7%Y-o-Y Change
Q1 2021
53rd
Rank out of 53 Submarkets
$1,594Average Rental Rate
Q1 2021
1st
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
-9.2%Y-o-Y Change
Q1 2021
53rd
Rank out of 53 Submarkets
$2,024Average Rental Rate
Q1 2021
1st
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
0.5%Y-o-Y Change
Q1 2021
30th
Rank out of 53 Submarkets
$3,504Average Rental Rate
Q1 2021
1st
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Orlando - North Orange | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 3rd/40 238.89% 1,333
2021 1st/29 147.84% 1,128
2022 N/A N/A N/A
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 2nd/45 205.08% 1,333
2021 1st/33 131.93% 1,128
2022 N/A N/A N/A
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
3Properties
1,128Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Yard at Ivanhoe, The 1460 Alden Road, Orlando, FL 32803
591 Real Estate Inverlad 03/2018 06/2021 08/2019
Alta at Health Village 2680 North Orange Avenue, Orlando, FL 32804
285 Wood Partners 06/2020 08/2021
Lake House 295 NE Ivanhoe Blvd, Orlando, FL 32804
252 Sumitomo Corporation 04/2019 04/2021 07/2020
Yardi® Matrix has no recorded planned properties in this Submarket
DEVELOPMENT ACTIVITY MARCH 2021
Orlando - North Orange | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
1 th Rank out of 53 Submarkets $276K Sale Price
per Unit
*partial year, ending March 2021
46 th Rank out of 53 Submarkets 0.2 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Princeton at College Park, The646 West Smith StreetOrlando, FL 32804
205 2019 A- (Prelim.)
B- BET Investments RangeWater Real Estate
03/2020 $56.68 2030 $17.70
Ivy Residences at Health Village, The2650 Dade AvenueOrlando, FL 32804
248 2014 A B- PASSCO Real Estate Wood Partners 05/2016 $54.97 $231.58 $222K 2026 $34.26
Gallery at Mills Park, The1650 North Mills AvenueOrlando, FL 32803
310 2014 A- C+ Heitman DeBartolo Development
03/2015 $66.50 $233.22 $215K 2025 $33.25
Orlando - North Orange | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
ORLANDO - PINE HILLS
ORLANDO MULTIFAMILYMARCH 2021
Orlando - Pine Hills submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
9 Properties
1,432 Units
C Average Location Rating
B- Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
* Submarket not ranked due to low sample inventory
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
100%Occupancy Rate
March 2021
1st
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
-5.6%Y-o-Y Change
$586Average Rental Rate
March 2021
N/A*
Rank out of 53 Submarkets
21.4%Growth in 2021 -Projected Year End
307Units built in 2021 -Projected Year End
8th
Orlando - Pine Hills | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 481 543 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% -0.2% -0.6%
Two Bedrooms 683 812 0.0% 0.0% 1.5% 5.1% 1.5% -3.7% -8.2% -8.8%
Three Bedrooms 258 1,000 0.1% 0.1% 1.7% 5.9% 1.8% -9.6% -20.3% -22.1%
Overall 1,422 785 0.0% 0.0% 0.8% 2.8% 0.8% -2.5% -5.5% -6.2%
Rank out of 53 Submarkets
-0.6%Y-o-Y Change
Q1 2021
N/A*Rank out of 53 Submarkets
$547Average Rental Rate
Q1 2021
Average Rental RateRental Rate ChangeYear-over-Year
N/A*
Rank out of 53 Submarkets
-8.8%Y-o-Y Change
Q1 2021
N/A*Rank out of 53 Submarkets
$623Average Rental Rate
Q1 2021
Average Rental RateRental Rate ChangeYear-over-Year
N/A*
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
-22.1%Y-o-Y Change
Q1 2021
N/A*Rank out of 53 Submarkets
$618Average Rental Rate
Q1 2021
Average Rental RateRental Rate ChangeYear-over-Year
N/A*
THREE BEDROOM
* Submarket not ranked due to low sample inventory
Orlando - Pine Hills | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years N/A N/A ** 307
2021 N/A N/A ** 307
2022 N/A N/A N/A
* among submarkets with completions in this period**Inventory growth not computed due to low initial
inventory
Ranked * Growth # Units
Last 5 Years 13th/45 37.36% 473
2021 7th/33 21.44% 307
2022 11th/18 6.67% 116
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
2Properties
423Units
116Fully Affordable Units
Property Address # Units DeveloperSubmitted Date
Fern Grove 3750 W.D. Judge Drive, Orlando, FL 32808 138 AGPM 08/2019
1Property
138Units
138Fully Affordable Units
PROSPECTIVE PROPERTIES 3 Properties 130 Fully Affordable Units382 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Cannery at the Packing District 2501 North Orange Blossom Trail, Orlando, FL 32804
307 Embrey Partners 01/2020 06/2021
Fairlawn Village North & South 1014 Mercy Drive, Orlando, FL 32808
116 Blue Sky Communities 01/2021 04/2022
DEVELOPMENT ACTIVITY MARCH 2021
Orlando - Pine Hills | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
49 th Rank out of 53 Submarkets $60K Sale Price
per Unit
*partial year, ending March 2021
37 th Rank out of 53 Submarkets 0.6 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Windsor Cove1488 Mercy DriveOrlando, FL 32808
256 1978 C+ C- Millennia Housing Companies
Global Ministries Foundation
01/2019 $13.70 $60.77 $54K $39.00
Magnolia Pointe1701 Mercy DriveOrlando, FL 32808
168 1999 B+ C Starwood Capital Group
AGPM 12/2017 $12.25 $82.95 $73K
Oak Glen2018 Mercy DriveOrlando, FL 32808
88 2002 B C Code Capital Partners
Dominium 12/2017 $4.58 $51.68 $52K 2025 $3.86
Windsor Cove1488 Mercy DriveOrlando, FL 32808
256 1978 C+ C- Mallah, Benjamin Funk, Richard 03/2007 $3.70 $16.41 $14K
Palm Grove Gardens3944 West W.D. Judge DriveOrlando, FL 32808
142 1971 C+ C- Orlando Neighborhood Improvement Corporation
Beachwold Residential
12/2002 $3.91 $35.54 $28K 2032 $4.00
Orlando - Pine Hills | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
ORLANDO - ROSEMONT
ORLANDO MULTIFAMILYMARCH 2021
Orlando - Rosemont submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
28 Properties
6,814 Units
C+ Average Location Rating
B Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
92.2%Occupancy Rate
March 2021
46th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
1.1%Y-o-Y Change
$1,028Average Rental Rate
March 2021
22nd
Rank out of 53 Submarkets
1.4%Growth in 2021 -Projected Year End
96Units built in 2021 -Projected Year End
32nd
Orlando - Rosemont | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 2,846 679 7.7% 5.4% 3.5% 0.0% -1.3% -0.6% 0.3% 0.7%
Two Bedrooms 3,968 975 6.6% 6.1% 5.8% 2.2% 4.1% 3.9% 2.9% 3.2%
Three Bedrooms 1,177 1,221 9.3% 9.2% 9.0% 5.2% 1.1% 4.0% 2.2% 1.0%
Other 346 815 10.8% 10.0% 12.1% 17.0% 10.2% 6.1% -0.4% -5.4%
Overall 8,337 922 7.6% 6.5% 5.6% 2.0% 1.7% 2.2% 1.8% 1.9%
Rank out of 53 Submarkets
0.7%Y-o-Y Change
Q1 2021
19th
Rank out of 53 Submarkets
$880Average Rental Rate
Q1 2021
49th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
3.2%Y-o-Y Change
Q1 2021
8th
Rank out of 53 Submarkets
$1,107Average Rental Rate
Q1 2021
47th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
1%Y-o-Y Change
Q1 2021
27th
Rank out of 53 Submarkets
$1,308Average Rental Rate
Q1 2021
48th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Orlando - Rosemont | Orlando Multifamily | 3
No Lifestyle property completions recorded for this Submarket
Unit CompletionsLifestyle vs Renters-by-NeccessityRanked * Growth # Units
Last 5 Years 44th/45 1.36% 96
2021 32nd/33 1.36% 96
2022 17th/18 1.68% 120
* among submarkets with completions in this period
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
1Property
96Units
96Fully Affordable Units
Property Address # Units DeveloperSubmitted Date
North Hiawassee Road Alta Westgate Drive & North Hiawassee Road, Orlando, FL 32818
128 Vestcor Companies 10/2019
Merak 5001 Cinderlane Pkwy, Orlando, FL 32808 52 Virtus North America 10/2019
2Properties
180Units
128Fully Affordable Units
PROSPECTIVE PROPERTIES 4 Properties 220 Fully Affordable Units1,362 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Emerald Villas Phase II 5450 Cholla Way, Pine Hills, FL 32808
96 Related Group 07/2019 05/2021 07/2020
DEVELOPMENT ACTIVITY MARCH 2021
Orlando - Rosemont | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
45 th Rank out of 53 Submarkets $97K Sale Price
per Unit
*partial year, ending March 2021
5 th Rank out of 53 Submarkets 2.8 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Stella West4757 Silver Star RoadOrlando, FL 32808
192 1974 C+ C+ Dasmen Residential Amzak Capital Management
03/2021 $18.62 $133.08 $97K 2031 $13.37
Rosala West4500 Silver Star RoadOrlando, FL 32808
190 1969 C+ C Dasmen Residential Amzak Capital Management
03/2021 $23.61 $129.63 $124K 2031 $17.23
Aventura5300 Cinderlane PkwyOrlando, FL 32808
144 1984 B- C+ J. Milton & Associates
Dominium 03/2020 $18.16 $139.09 $126K
Seminole Ridge2750 Renegade DriveOrlando, FL 32818
240 2000 B C+ Kairos Investment Management
Springboard Housing
11/2019 $24.83 $103.10 $103K 2051 $13.64
Orlando Sky4990 North LaneOrlando, FL 32808
140 1986 C+ C+ Anthem Property Ventures
Lohman, Lowell 10/2019 $11.20 $124.42 $80K 2026 $8.84
Kensington Cottages2909 Burroughs DriveOrlando, FL 32818
169 1984 C+ C+ Coastline Management Group
DLP Real Estate Capital
09/2019 $15.30 $151.35 $91K 2021 $12.00
Marbella Park5528 Cinderlane PkwyOrlando, FL 32808
120 1975 B- C+ S.N.S Property Management
Durham & Associates
09/2019 $13.05 $96.67 $109K
Isle, The5224 Long RoadOrlando, FL 32808
208 1991 B+ C+ GoldOller Real Estate Investments
Blue Roc Premier Properties
07/2019 $26.50 $92.14 $127K 2031 $21.20
Orlando - Rosemont | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
PALM BAY
ORLANDO MULTIFAMILYMARCH 2021
Palm Bay submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
36 Properties
7,353 Units
B- Average Location Rating
B Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
94.8%Occupancy Rate
March 2021
22nd
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
3.5%Y-o-Y Change
$1,198Average Rental Rate
March 2021
8th
Rank out of 53 Submarkets
6.5%Growth in 2021 -Projected Year End
476Units built in 2021 -Projected Year End
21st
Palm Bay | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 2,641 667 3.7% 1.5% 1.1% 2.0% 0.6% 2.3% 2.9% 4.0%
Two Bedrooms 4,014 950 5.5% 4.3% 0.0% 0.8% -3.3% -2.8% 0.9% 2.7%
Three Bedrooms 833 1,207 4.0% 3.1% 3.5% 3.1% 3.6% 1.5% 0.6% 1.7%
Other 170 489 1.8% -1.3% -2.4% 5.3% 0.5% 2.0% 4.6% 5.8%
Overall 7,658 828 4.7% 3.3% 0.7% 1.5% -1.2% -0.6% 1.6% 3.1%
Rank out of 53 Submarkets
4%Y-o-Y Change
Q1 2021
2nd
Rank out of 53 Submarkets
$1,051Average Rental Rate
Q1 2021
42nd
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
2.7%Y-o-Y Change
Q1 2021
10th
Rank out of 53 Submarkets
$1,235Average Rental Rate
Q1 2021
44th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
1.7%Y-o-Y Change
Q1 2021
25th
Rank out of 53 Submarkets
$1,480Average Rental Rate
Q1 2021
44th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Palm Bay | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years N/A N/A ** 1,478
2021 5th/29 43.43% 476
2022 4th/15 34.86% 548
* among submarkets with completions in this period**Inventory growth not computed due to low initial
inventory
Ranked * Growth # Units
Last 5 Years 21st/45 23.27% 1,478
2021 20th/33 6.47% 476
2022 8th/18 7.00% 548
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
5Properties
1,024Units
Property Address # Units DeveloperSubmitted Date
Integra Station at Space Coast Town Centre Phase II
Interstate 95 & Space Coast Pkwy, West Melbourne, FL 32904
800 JMG Realty 09/2019
Parasol Melbourne 4881 Dairy Road, Melbourne, FL 32904 159 AD1 Global 10/2020
2Properties
959Units
PROSPECTIVE PROPERTIES 5 Properties 236 Fully Affordable Units649 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Integra Station at Space Coast Town Centre
Interstate 95 & Space Coast Pkwy, West Melbourne, FL 32904
300 Integra Land Company 12/2020 03/2022
West Shore 2329 Commerce Park Drive NE, Palm Bay, FL 32905
248 Northshore Development 02/2021 03/2022
Isla 1205 Jaslo Street SE, Palm Bay, FL 32909
197 Alliance Companies 11/2019 06/2021 12/2020
Highline 635 East New Haven Avenue, Melbourne, FL 32901
171 08/2018 05/2021 06/2020
+ 1 More Properties 108
DEVELOPMENT ACTIVITY MARCH 2021
Palm Bay | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
36 th Rank out of 53 Submarkets $130K Sale Price
per Unit
*partial year, ending March 2021
3 rd Rank out of 53 Submarkets 3.4 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Southlake Towers5501 Pinewood DrivePalm Bay, FL 32905
85 1986 C C+ ReBuild America Mansermar Management Group
09/2020 $11.27 $269.18 $133K
Braxton, The1000 Palm Place Drive NEPalm Bay, FL 32905
320 1987 B C+ Electra America Abacus Capital Group
08/2020 $48.50 $173.92 $152K 2030 $33.85
Luminary at Ninety - Five, The110 Sagecrest CircleWest Melbourne, FL 32904
300 2019 A- B Waypoint Residential
Promise in Brevard 02/2020 $67.00 $228.54 $223K 2030 $43.88
Compass3595 Misty Oak DriveMelbourne, FL 32901
210 1986 B C+ Electra America Starwood Capital Group
12/2019 $28.50 $167.84 $136K 2030 $20.54
Princeton Parc4714 Crosswind CourtMelbourne, FL 32904
200 2002 B- B- Enzo Multifamily Panther Properties 12/2019 $35.00 $134.97 $175K 2030 $24.25
Bridgewater Pointe151 Eber BlvdMelbourne, FL 32901
100 1987 C+ C+ Greenberg Apartment Communities
Trinity Property Group
10/2019 $14.80 $128.70 $148K $8.50
Shull Manor713 East University BlvdMelbourne, FL 32901
65 1968 C+ C+ Artemis Lifestyles American Housing Enterprises
06/2019 $4.00 $68.38 $62K $4.10
Arch Creek Run173 Rachel StreetMelbourne, FL 32901
96 1982 C C+ Millennia Housing Companies
Global Ministries Foundation
11/2018 $7.45 $119.98 $78K 2019 $7.25
Princeton Parc4714 Crosswind CourtMelbourne, FL 32904
200 2002 B- B- Panther Properties Garden Communities
05/2018 $26.50 $102.19 $132K 2021 $21.01
Palm Bay | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
RED BUG LAKE
ORLANDO MULTIFAMILYMARCH 2021
Red Bug Lake submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
9 Properties
2,508 Units
B Average Location Rating
B Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
94.6%Occupancy Rate
March 2021
26th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
1.9%Y-o-Y Change
$1,270Average Rental Rate
March 2021
13th
Rank out of 53 Submarkets
15.3%Growth in 2021 -Projected Year End
384Units built in 2021 -Projected Year End
10th
Red Bug Lake | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 1,461 643 7.5% 2.6% -2.7% -5.9% -1.2% -1.9% -2.7% 0.3%
Two Bedrooms 1,473 887 2.0% 1.3% 0.3% -1.0% 1.7% 1.6% 0.5% 2.0%
Three Bedrooms 360 1,131 1.2% -0.3% 1.0% 1.2% -0.2% -2.6% -2.3% 5.2%
Other 110 763 12.8% 13.2% 7.8% -6.7% -6.7% -12.0% -13.6% -0.4%
Overall 3,404 856 4.4% 1.9% -0.7% -2.9% 0.0% -0.8% -1.6% 1.7%
Rank out of 53 Submarkets
0.3%Y-o-Y Change
Q1 2021
22nd
Rank out of 53 Submarkets
$1,099Average Rental Rate
Q1 2021
36th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
2%Y-o-Y Change
Q1 2021
15th
Rank out of 53 Submarkets
$1,359Average Rental Rate
Q1 2021
34th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
5.2%Y-o-Y Change
Q1 2021
8th
Rank out of 53 Submarkets
$1,724Average Rental Rate
Q1 2021
24th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Red Bug Lake | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 30th/40 21.38% 384
2021 14th/29 21.38% 384
2022 N/A N/A N/A
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 35th/45 13.36% 384
2021 14th/33 13.36% 384
2022 N/A N/A N/A
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
1Property
384Units
Property Address # Units DeveloperSubmitted Date
Oviedo Mall Redevelopment 1700 Oviedo Mall Blvd, Oviedo, FL 32765 425 Klein Company, The 08/2016
1Property
425Units
PROSPECTIVE PROPERTIES Yardi® Matrix has no recorded prospective properties in this Submarket
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Jefferson Lake Howell 1124 Shoreview Circle, Casselberry, FL 32707
384 Jefferson Apartment Group 07/2019 06/2021 10/2020
DEVELOPMENT ACTIVITY MARCH 2021
Red Bug Lake | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
29 th Rank out of 53 Submarkets $149K Sale Price
per Unit
*partial year, ending March 2021
18 th Rank out of 53 Submarkets 1.2 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Newport Colony1166 Pointe Newport TerraceCasselberry, FL 32707
476 1990 B+ B Residential Management
LivCor 03/2021 $87.50 $206.46 $184K 2031 $56.10
Onyx Winter Park100 Reflections CircleCasselberry, FL 32707
336 1983 B+ B Electra America RADCO Companies 10/2020 $51.50 $193.42 $153K 2030 $36.05
1020 at Winter Springs1020 Chatham Pines CircleWinter Springs, FL 32708
208 1990 B+ B GMF Capital Covenant Capital Group
06/2019 $32.50 $204.76 $156K 2029 $26.13
Madison Riverwalk990 English Town LaneWinter Springs, FL 32708
280 1999 B B Investcorp Equus Capital Partners
05/2019 $48.00 $153.14 $171K 2029 $33.31
Tuskawilla at Winter Springs4545 Willa Creek DriveWinter Springs, FL 32708
368 1986 B+ B TruAmerica Multifamily
Cosculluela, Michael
03/2018 $49.70 $137.35 $135K 2026 $35.63
Onyx Winter Park100 Reflections CircleCasselberry, FL 32707
336 1983 B+ B RADCO Companies GoldOller Real Estate Investments
10/2017 $36.40 $136.71 $108K
Serena Winter Park2890 Red Lion SquareWinter Park, FL 32792
120 1974 C+ B McKinley Properties H & H Realty 11/2016 $9.00 $92.29 $75K $8.05
1020 at Winter Springs1020 Chatham Pines CircleWinter Springs, FL 32708
208 1990 B+ B Covenant Capital Group
ECI Group 05/2016 $23.33 $146.96 $112K 2023 $18.18
Red Bug Lake | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
SANFORD
ORLANDO MULTIFAMILYMARCH 2021
Sanford submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
34 Properties
7,706 Units
B- Average Location Rating
B Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
95.2%Occupancy Rate
March 2021
17th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
4.5%Y-o-Y Change
$1,243Average Rental Rate
March 2021
4th
Rank out of 53 Submarkets
0.9%Growth in 2021 -Projected Year End
68Units built in 2021 -Projected Year End
33rd
Sanford | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 2,919 730 4.4% 2.3% 0.8% -1.6% -0.5% 1.6% 3.6% 5.2%
Two Bedrooms 3,896 1,019 5.8% 4.6% 2.8% -0.8% -1.8% -1.7% 0.4% 2.2%
Three Bedrooms 1,349 1,256 2.9% 3.6% 2.0% 0.5% -0.9% 1.8% 4.4% 6.7%
Other 218 1,333 12.1% 7.4% 4.6% 1.2% 0.0% 1.9% 2.9% 5.9%
Overall 8,382 1,084 4.9% 3.6% 2.0% -0.8% -1.1% 0.2% 2.1% 3.9%
Rank out of 53 Submarkets
5.2%Y-o-Y Change
Q1 2021
1st
Rank out of 53 Submarkets
$1,099Average Rental Rate
Q1 2021
37th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
2.2%Y-o-Y Change
Q1 2021
14th
Rank out of 53 Submarkets
$1,306Average Rental Rate
Q1 2021
40th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
6.7%Y-o-Y Change
Q1 2021
5th
Rank out of 53 Submarkets
$1,572Average Rental Rate
Q1 2021
38th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Sanford | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 34th/40 17.59% 456
2021 N/A N/A N/A
2022 N/A N/A N/A
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 41st/45 7.17% 524
2021 33rd/33 0.88% 68
2022 N/A N/A N/A
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
1Property
68Units
68Fully Affordable Units
Property Address # Units DeveloperSubmitted Date
Sanford Sunrail Station 2901 West 1st Street, Sanford, FL 32771 316 DeBartolo Development 10/2019
Vintage North H E Thomas Jr Pkwy & Rinehart Road, Sanford, FL 32771
310 TDK Construction 11/2020
View @ Lake Monroe, The 2485 US Highway 17, Sanford, FL 32771 300 Ioppolo Law Group 01/2019
Heritage Park West Seminole Blvd & Walnut Crest Run, Sanford, FL 32771
235 Torre Companies 07/2020
+ 1 More Properties 120
5Properties
1,281Units
PROSPECTIVE PROPERTIES 7 Properties 150 Fully Affordable Units1,711 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Burlington Cove 2580 Ridgewood Avenue, Sanford, FL 32751
68 Wendover Housing Partners
08/2020 03/2021 01/2021
DEVELOPMENT ACTIVITY MARCH 2021
Sanford | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
25 th Rank out of 53 Submarkets $156K Sale Price
per Unit
*partial year, ending March 2021
7 th Rank out of 53 Submarkets 2.4 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Vue on Lake Monroe800 Marbella LaneSanford, FL 32771
280 2020 A- B+ Robbins Property Associates
AG Spanos Companies
02/2021 $55.30 $259.22 $198K 2031 $34.02
Overlook at Monroe, The100 Willner CircleSanford, FL 32771
184 1994 B C+ Equity Management Partners
Harmony Housing 12/2020 $13.65 $80.07 $74K $11.14
Stratford Point1700 Old England LoopSanford, FL 32771
384 2001 B+ B- Lincoln Avenue Capital
Picerne Real Estate Group
08/2020 $38.01 $88.87 $99K $34.45
Hatteras Sound13000 Island Bay CircleSanford, FL 32771
184 2001 A- B Starwood Capital Group
Lakeside Capital Advisors
07/2020 $33.29 $181.53 $181K 2030 $24.86
Vista Haven4100 Geranium LaneSanford, FL 32771
336 2001 B+ B- Starwood Capital Group
Lakeside Capital Advisors
02/2020 $58.08 $156.19 $173K 2030 $40.99
Village Lakes500 West Airport BlvdSanford, FL 32773
228 1987 B- C Greider, David K. Atlantic Housing Foundation
02/2020 $25.99 $143.08 $114K $21.09
Solara5000 Solara CircleSanford, FL 32771
272 2014 A B Robbins Property Associates
B & M Management 11/2018 $45.70 $194.21 $168K 2023 $34.00
Lofts at Eden1840 Rinehart RoadSanford, FL 32771
176 2017 A- B- NM Residential Inland Real Estate Group
06/2018 $27.80 $200.93 $158K $24.60
Kings Mariner's Village3202 South Orlando DriveSanford, FL 32773
88 1974 C+ C+ Rodriguez, David L. Ramon, Elvis 04/2018 $4.50 $65.03 $51K $3.30
Sanford | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
STONEYBROOK
ORLANDO MULTIFAMILYMARCH 2021
Stoneybrook submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
29 Properties
8,841 Units
B+ Average Location Rating
A- Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
93.7%Occupancy Rate
March 2021
38th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
2.9%Y-o-Y Change
$1,453Average Rental Rate
March 2021
9th
Rank out of 53 Submarkets
2.0%Growth in 2021 -Projected Year End
176Units built in 2021 -Projected Year End
30th
Stoneybrook | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 2,821 815 3.2% 2.6% 0.0% -1.2% -3.9% -3.6% -1.3% 2.1%
Two Bedrooms 4,596 1,125 2.8% 2.3% 0.8% -1.3% -5.0% -4.0% -1.3% 2.4%
Three Bedrooms 1,856 1,309 3.9% 2.3% -0.5% -2.0% -4.7% -4.5% -0.8% 0.7%
Other 180 1,289 3.8% 0.4% -1.7% -3.1% -4.1% -2.3% -0.7% 2.4%
Overall 9,453 1,134 3.1% 2.4% 0.3% -1.4% -4.6% -3.9% -1.2% 2.0%
Rank out of 53 Submarkets
2.1%Y-o-Y Change
Q1 2021
8th
Rank out of 53 Submarkets
$1,277Average Rental Rate
Q1 2021
14th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
2.4%Y-o-Y Change
Q1 2021
12th
Rank out of 53 Submarkets
$1,494Average Rental Rate
Q1 2021
15th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
0.7%Y-o-Y Change
Q1 2021
28th
Rank out of 53 Submarkets
$1,713Average Rental Rate
Q1 2021
26th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Stoneybrook | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 32nd/40 18.32% 1,027
2021 29th/29 2.73% 176
2022 N/A N/A N/A
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 37th/45 12.42% 1,027
2021 30th/33 1.93% 176
2022 N/A N/A N/A
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
1Property
176Units
Property Address # Units DeveloperSubmitted Date
Greeneway Park East Colonial Drive & North Econlockhatchee Trail, Florida, FL 32825
192 Tavistock Development 10/2020
1Property
192Units
PROSPECTIVE PROPERTIES 6 Properties 144 Fully Affordable Units4,072 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Vale East 113 South Econlockhatchee Trail, Orlando, FL 32825
176 NM Residential 09/2019 05/2021 10/2020
DEVELOPMENT ACTIVITY MARCH 2021
Stoneybrook | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
22nd Rank out of 53 Submarkets $164K Sale Price
per Unit
*partial year, ending March 2021
12 th Rank out of 53 Submarkets 1.8 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Highpoint Club11100 Point Sylvan CircleOrlando, FL 32825
348 1995 B B- Goldrich & Kest TruAmerica Multifamily
10/2020 $69.00 $244.51 $198K 2030 $45.05
River Reach1628 River Reach DriveOrlando, FL 32828
300 1996 B B Starwood Capital Group
Lakeside Capital Advisors
02/2020 $44.58 $134.40 $149K 2030 $33.53
Monaco at Waterford Lakes12101 Fountainbrook BlvdOrlando, FL 32825
400 2000 A- B Beverly Wilshire Investment Company
Lantower Residential
09/2019 $77.00 $202.85 $192K 2031 $50.17
Knightsbridge at Stoneybrook2802 Cheval StreetOrlando, FL 32828
396 2000 B+ B+ LivCor Carroll Organization 05/2018 $60.88 $149.40 $154K 2033
Avalon Reserve14451 Avalon ReserveOrlando, FL 32828
300 2004 B+ A- Starwood Capital Group
AGPM 02/2018 $33.48 $106.35 $112K 2028 $23.41
Waterford Pointe12900 Waterford Wood CircleOrlando, FL 32828
240 2000 B+ B Starwood Capital Group
AGPM 02/2018 $28.04 $108.73 $117K 2028 $20.13
Eastmar Commons10038 Vista Laguna DriveOrlando, FL 32825
312 2017 A- B- Millburn & Company
Wood Partners 10/2017 $56.45 $198.94 $181K 2027 $42.43
Canterbury Cove10200 Falcon Pines BlvdOrlando, FL 32829
300 2006 A B+ TruAmerica Multifamily
Carroll Organization 10/2017 $47.70 $155.03 $159K 2024 $33.03
Highpoint Club11100 Point Sylvan CircleOrlando, FL 32825
348 1995 B B- TruAmerica Multifamily
Electra America 06/2017 $48.50 $171.86 $139K 2024 $33.68
Stoneybrook | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
TITUSVILLE
ORLANDO MULTIFAMILYMARCH 2021
Titusville submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
20 Properties
2,726 Units
B- Average Location Rating
B- Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
95.9%Occupancy Rate
March 2021
11th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
4.3%Y-o-Y Change
$985Average Rental Rate
March 2021
5th
Rank out of 53 Submarkets
6.8%Growth in 2021 -Projected Year End
186Units built in 2021 -Projected Year End
20th
Titusville | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 964 447 4.1% 5.0% 6.8% 4.8% 2.0% 2.8% 2.2% 2.1%
Two Bedrooms 1,713 589 4.5% 6.5% 7.2% 5.6% 4.9% 4.2% 4.1% 5.4%
Three Bedrooms 494 1,075 4.5% 6.2% 7.2% 4.9% 4.2% 3.2% 2.3% 2.5%
Other 99 136 4.9% 4.5% 6.0% -2.1% -5.3% -3.8% -4.7% 0.0%
Overall 3,270 562 4.2% 5.8% 6.9% 5.1% 3.7% 3.5% 3.1% 4.0%
Rank out of 53 Submarkets
2.1%Y-o-Y Change
Q1 2021
7th
Rank out of 53 Submarkets
$833Average Rental Rate
Q1 2021
50th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
5.4%Y-o-Y Change
Q1 2021
4th
Rank out of 53 Submarkets
$1,028Average Rental Rate
Q1 2021
50th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
2.5%Y-o-Y Change
Q1 2021
20th
Rank out of 53 Submarkets
$1,423Average Rental Rate
Q1 2021
46th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Titusville | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years N/A N/A ** 402
2021 9th/29 37.65% 186
2022 N/A N/A N/A
* among submarkets with completions in this period**Inventory growth not computed due to low initial
inventory
Ranked * Growth # Units
Last 5 Years 30th/45 17.26% 488
2021 21st/33 5.94% 186
2022 N/A N/A N/A
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
1Property
186Units
Property Address # Units DeveloperSubmitted Date
Horizon at Sand Point 300 North Washington Avenue, Titusville, FL 32796
384 KD Construction 09/2020
1Property
384Units
PROSPECTIVE PROPERTIES 5 Properties 276 Fully Affordable Units558 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Dream Space Coast 2825 South Washington Avenue, Titusville, FL 32780
186 DLP Real Estate Capital 03/2018 05/2021 03/2019
DEVELOPMENT ACTIVITY MARCH 2021
Titusville | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
50 th Rank out of 53 Submarkets $53K Sale Price
per Unit
*partial year, ending March 2021
10 th Rank out of 53 Submarkets 2.0 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Village at Valencia, The915 South Park AvenueTitusville, FL 32780
96 1967 C+ C+ Michaelson Group DLP Real Estate Capital
04/2021 $8.06 $119.61 $84K 2033 $6.30
Legacy Cove1111 Kennedy CourtTitusville, FL 32780
64 1965 C- C+ D'Alessandro, Joseph
Fernandez Jr., Nelson J.
11/2020 $4.30 $104.98 $67K 2027 $3.12
Garden Park1600 Garden StreetTitusville, FL 32796
86 1965 C+ C+ Scotto Properties Coomer, Brian W. 07/2020 $6.25 $125.81 $73K $5.62
Park Villas1023 Park AvenueTitusville, FL 32780
160 2002 B C+ Starwood Capital Group
Alden Torch Financial
08/2019 $11.49 $67.25 $72K
Heritage1850 South Park AvenueTitusville, FL 32780
56 1968 C C+ Georges, Philip Siesta Coast Capital 12/2018 $3.73 $80.60 $67K 2029 $2.28
Forest Park South521 Rock Pit RoadTitusville, FL 32796
68 1981 C- C+ Millennia Housing Companies
Security Properties 06/2018 $2.15 $33.56 $32K $2.20
Emerald Place1040 Tree LaneTitusville, FL 32780
136 1982 C+ C+ Southport Financial Services
Royal American Companies
04/2018 $4.20 $35.59 $31K 2019 $3.70
Mayfair Villas2280 Mayfair WayTitusville, FL 32796
120 1966 C+ C+ Wells, Jeffery W. Cross Florida Group 10/2017 $3.35 $37.22 $28K $3.00
Heritage1850 South Park AvenueTitusville, FL 32780
56 1968 C C+ Siesta Coast Capital Lalani, Karim 07/2017 $2.75 $59.51 $49K
Titusville | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
UNIVERSITY PARK
ORLANDO MULTIFAMILYMARCH 2021
University Park submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
26 Properties
7,610 Units
B Average Location Rating
B+ Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
95.1%Occupancy Rate
March 2021
19th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
-0.1%Y-o-Y Change
$1,976Average Rental Rate
March 2021
35th
Rank out of 53 Submarkets
1.8%Growth in 2021 -Projected Year End
138Units built in 2021 -Projected Year End
31st
University Park | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 1,885 705 5.3% 5.8% 5.8% 3.7% 2.1% 1.7% 0.7% 2.1%
Two Bedrooms 2,496 934 4.1% 3.3% 2.6% -0.4% -0.4% -0.2% 0.5% 2.4%
Three Bedrooms 865 1,155 4.9% 4.7% 4.2% 5.0% 1.4% 0.3% 1.8% 3.0%
Other 3,497 1,224 2.4% -1.5% -0.9% -0.5% 1.9% 2.8% 0.9% -0.7%
Overall 8,743 1,004 5.0% 4.7% 4.3% 2.7% 1.6% -0.5% -1.7% -0.3%
Rank out of 53 Submarkets
2.1%Y-o-Y Change
Q1 2021
9th
Rank out of 53 Submarkets
$1,195Average Rental Rate
Q1 2021
24th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
2.4%Y-o-Y Change
Q1 2021
11th
Rank out of 53 Submarkets
$1,460Average Rental Rate
Q1 2021
19th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
3%Y-o-Y Change
Q1 2021
15th
Rank out of 53 Submarkets
$2,153Average Rental Rate
Q1 2021
4th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
University Park | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 33rd/40 18.07% 663
2021 28th/29 3.29% 138
2022 14th/15 5.26% 228
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 40th/45 8.86% 663
2021 31st/33 1.72% 138
2022 15th/18 2.80% 228
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
2Properties
366Units
Property Address # Units DeveloperSubmitted Date
Paseo at Collegiate Village, The 4000 Central Florida Blvd, Orlando, FL 32816 350 Demetree Real Estate 07/2020
3210 Rouse Rd 3210 Rouse Road, Orlando, FL 32817 130 Fountain Residential 04/2019
2Properties
480Units
PROSPECTIVE PROPERTIES 5 Properties 80 Fully Affordable Units891 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Makara 3751 Staniel Cay Loop, Orlando, FL 32817
228 RangeWater Real Estate 10/2020 12/2021
Retreat East, The 12151 East Colonial Drive, Orlando, FL 32826
138 Landmark Properties 07/2020 10/2021 11/2020
DEVELOPMENT ACTIVITY MARCH 2021
University Park | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
5 th Rank out of 53 Submarkets $226K Sale Price
per Unit
*partial year, ending March 2021
13 th Rank out of 53 Submarkets 1.6 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Mercury 31003100 Alafaya Club DriveOrlando, FL 32817
228 1999 A- C+ LivCor Investcorp 02/2021 $63.38 $193.74 $278K
CODA13645 East Colonial DriveOrlando, FL 32826
296 2019 A B- RK Properties Catalyst Development Partners
10/2020 $66.00 $248.58 $223K 2030 $35.13
Glenn, The10801 Heather Ridge CircleOrlando, FL 32817
396 1987 B- B Horizon Realty Advisors
Insula Properties 01/2019 $64.75 $188.94 $164K 2026 $40.66
Knightshade11037 Retreat AvenueOrlando, FL 32817
221 2014 A- B- Preferred Apartment Communities
Inland Real Estate Group
06/2018 $81.72 $187.40 $370K
Arden Villas3303 Arden Villas BlvdOrlando, FL 32817
336 1998 B B Nuveen Real Estate RangeWater Real Estate
05/2018 $55.50 $143.63 $165K 2024 $40.50
Quad, The3961 Gathering DriveOrlando, FL 32807
96 1999 B+ B Horizon Realty Advisors
Chance Partners 03/2018 $23.25 $161.46 $242K 2026 $15.68
Orion on Orpington12700 Orpington StreetOrlando, FL 32826
156 2007 B+ B- Nuveen Real Estate Investcorp 09/2017 $41.81 $206.78 $268K
Mercury 31003100 Alafaya Club DriveOrlando, FL 32817
228 1999 A- C+ Investcorp Starwood Capital Group
07/2017 $42.72 $130.59 $187K $41.55
EOS12221 East Colonial DriveOrlando, FL 32826
296 2016 A B Raia Properties Catalyst Development Partners
12/2016 $52.00 $198.61 $176K $33.80
University Park | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
WINTER GARDEN
ORLANDO MULTIFAMILYMARCH 2021
Winter Garden submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
10 Properties
1,513 Units
B- Average Location Rating
B- Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
93.4%Occupancy Rate
March 2021
42nd
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
4.0%Y-o-Y Change
$1,393Average Rental Rate
March 2021
7th
Rank out of 53 Submarkets
26.3%Growth in 2021 -Projected Year End
398Units built in 2021 -Projected Year End
6th
Winter Garden | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 393 735 12.6% 10.3% 4.5% 0.0% -5.9% -5.1% -1.1% 1.1%
Two Bedrooms 892 1,063 1.7% -0.1% 1.1% 4.1% 3.7% 3.2% 1.6% 2.0%
Three Bedrooms 238 1,286 -3.8% -0.8% 4.2% 0.3% 0.0% 1.8% 0.6% -0.1%
Other 50 957 0.3% -4.2% 6.1% 16.1% 9.3% 6.2% -4.0% 2.3%
Overall 1,573 1,010 3.2% 2.0% 2.4% 2.5% 0.5% 0.8% 0.6% 1.5%
Rank out of 53 Submarkets
1.1%Y-o-Y Change
Q1 2021
14th
Rank out of 53 Submarkets
$1,224Average Rental Rate
Q1 2021
20th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
2%Y-o-Y Change
Q1 2021
16th
Rank out of 53 Submarkets
$1,439Average Rental Rate
Q1 2021
23rd
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
-0.1%Y-o-Y Change
Q1 2021
37th
Rank out of 53 Submarkets
$1,686Average Rental Rate
Q1 2021
29th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Winter Garden | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 7th/40 83.61% 398
2021 3rd/29 83.61% 398
2022 3rd/15 39.13% 342
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 19th/45 26.31% 398
2021 5th/33 26.31% 398
2022 3rd/18 17.90% 342
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
3Properties
740Units
Property Address # Units DeveloperSubmitted Date
Orange Lake Country Club 273 Avalon Road, Winter Garden, FL 34787 472 Orange Lake Country Club 08/2020
Johns Lake Point West Colonial Drive & Orange Avenue, Oakland, FL 34787
242 LIV Development 05/2019
2Properties
714Units
PROSPECTIVE PROPERTIES 2 Properties 345 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Avenue on Oakland, The 17210 Oakland Avenue, Oakland, FL 34760
342 Unicorp National Developments
10/2020 12/2021
Alta Winter Garden 1211 East Plant Street, Winter Garden, FL 34787
250 Wood Partners 06/2020 11/2021
Arya Independent Living 868 Roberson Road, Ocoee, FL 34761
148 NM Residential 05/2020 11/2021
DEVELOPMENT ACTIVITY MARCH 2021
Winter Garden | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
46 th Rank out of 53 Submarkets $91K Sale Price
per Unit
*partial year, ending March 2021
34 th Rank out of 53 Submarkets 0.6 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Slate Luxury584 West Bay StreetWinter Garden, FL 34787
108 1979 C+ C+ Curtis, Dean Mannausa & Company
05/2018 $7.15 $89.52 $66K
Park Avenue Villas48 South Park AvenueWinter Garden, FL 34787
120 1974 C+ C+ Starwood Capital Group
AGPM 03/2018 $8.70 $107.43 $73K
West Pointe Villas1201 West Pointe Villas BlvdWinter Garden, FL 34787
288 2000 B C Starwood Capital Group
AGPM 02/2018 $31.07 $96.26 $108K 2028 $22.08
Casa Mirella101 Casa Mirella WayWindermere, FL 34786
276 2015 A A- Milestone Group, The
Raia Properties 11/2016 $56.00 $146.23 $203K $33.00
Casa Mirella101 Casa Mirella WayWindermere, FL 34786
276 2015 A A- Raia Properties Unicorp National Developments
08/2015 $50.00 $130.56 $181K
Winter Garden Village521 South Park AvenueWinter Garden, FL 34787
64 1972 C+ C+ Gargasz Property Management
Zions First National Bank - REO
07/2010 $1.30 $22.44 $20K 2043 $1.43
Winter Garden Village521 South Park AvenueWinter Garden, FL 34787
64 1972 C+ C+ Guzman, Francisco & Maria
Conlon, Mike 06/2006 $4.40 $75.97 $69K
Inland Seas1301 Inland Seas BlvdWinter Garden, FL 34787
112 1973 C+ C+ Southern Management & Development
Kayden, Jerold 01/2005 $2.78 $33.35 $25K 2025 $2.60
Winter Garden | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
WINTER PARK - EAST
ORLANDO MULTIFAMILYMARCH 2021
Winter Park - East submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
38 Properties
9,273 Units
B- Average Location Rating
B Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
94.9%Occupancy Rate
March 2021
21st
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
0.2%Y-o-Y Change
$1,243Average Rental Rate
March 2021
31st
Rank out of 53 Submarkets
0.0%Growth in 2021 -Projected Year End
N/AUnits built in 2021 -Projected Year End
N/A
Winter Park - East | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 4,097 691 7.9% 4.7% 4.8% 3.2% -0.9% -2.2% -3.6% -0.7%
Two Bedrooms 4,769 995 5.2% 4.0% 3.5% 2.4% -1.2% -3.3% -3.8% -1.9%
Three Bedrooms 933 1,193 0.7% 2.9% 5.3% 1.6% -1.1% -0.4% -0.3% 1.7%
Other 186 550 3.5% 1.6% 1.6% 4.8% 4.5% 0.9% -4.5% -2.4%
Overall 9,985 857 5.7% 4.1% 4.2% 2.7% -1.0% -2.5% -3.4% -1.1%
Rank out of 53 Submarkets
-0.7%Y-o-Y Change
Q1 2021
31st
Rank out of 53 Submarkets
$1,112Average Rental Rate
Q1 2021
32nd
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
-1.9%Y-o-Y Change
Q1 2021
39th
Rank out of 53 Submarkets
$1,310Average Rental Rate
Q1 2021
39th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
1.7%Y-o-Y Change
Q1 2021
24th
Rank out of 53 Submarkets
$1,531Average Rental Rate
Q1 2021
41st
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Winter Park - East | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 35th/40 16.63% 332
2021 N/A N/A N/A
2022 12th/15 7.65% 178
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 42nd/45 4.41% 402
2021 N/A N/A N/A
2022 16th/18 1.87% 178
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
1Property
178Units
Property Address # Units DeveloperSubmitted Date
Tuscany at Aloma Aloma Avenue & Forsyth Road, Winter Park, FL 32792
96 Gardner Development 10/2017
1Property
96Units
96Fully Affordable Units
PROSPECTIVE PROPERTIES 1 Property 89 Fully Affordable Units89 Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Calirosa Winter Park 3045 Aloma Avenue, Winter Park, FL 32792
178 Epoch Residential 12/2020 12/2021
DEVELOPMENT ACTIVITY MARCH 2021
Winter Park - East | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
31 st Rank out of 53 Submarkets $146K Sale Price
per Unit
*partial year, ending March 2021
8 th Rank out of 53 Submarkets 2.2 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Lakeside Villas7950 Shoals DriveOrlando, FL 32817
346 1973 B C+ LivCor JRK Property Holdings
12/2020 $63.00 $220.34 $182K
Branchwood7785 North Branchwood LaneWinter Park, FL 32792
117 1982 C C+ Harbor Group International
Varia US Properties 12/2020 $11.35 $175.86 $97K 2031 $8.18
Tealwood Parke4704 Lucier CourtWinter Park, FL 32792
108 1986 B C+ R.O.I. Capital Group McCarthy II, Drury F. 11/2020 $16.74 $166.11 $155K $13.39
Alvista Winter Park3935 Sutton Place BlvdWinter Park, FL 32792
288 1986 B B- Phoenix Realty Group
RADCO Companies 11/2020 $54.25 $212.09 $188K $38.00
Signal Pointe Apartment Homes2500 Howell Branch RoadWinter Park, FL 32792
368 1970 B C+ Harbor Group International
Aragon Holdings 01/2020 $69.89 $206.92 $190K
LIV at Winter Park4755 North Goldenrod RoadWinter Park, FL 32792
278 1973 B C+ Ashcroft Capital Curtis, Dean 10/2019 $49.00 $217.44 $176K 2029 $36.75
Poste Winter Park800 Semoran Park DriveWinter Park, FL 32792
120 1972 B- C+ Curtis, Dean Abriola, Gary 10/2019 $15.60 $152.05 $130K
Sapphire Winter Park1743 Semoran North CircleWinter Park, FL 32792
348 1969 B- C+ McKinley Properties ResProp Management
12/2018 $45.50 $119.30 $131K $58.00
San Jose2353 Winter Woods BlvdWinter Park, FL 32792
121 1972 C+ C+ Lincoln Avenue Capital
Royal American Companies
12/2018 $6.06 $46.95 $50K $5.60
Winter Park - East | Orlando Multifamily | 5
CONTACT USGet in touch with our team for inquiries and feedback
Ron BrockIndustry Principal, Matrix(480) 663 1149 ext. 2404
Candice SpencerCustomer Service/Retention Manager(480) 663 1149 ext. 2417
WOODRUFF SPRINGS
ORLANDO MULTIFAMILYMARCH 2021
Woodruff Springs submarket metrics and benchmarks: rent, inventory, new supply and sales.
TABLE OF CONTENTS
Overview
Submarket Fundamentals
Rental Activity by Unit Type
Development Activity
Transaction Activity
1
2
3
5
4
6 Properties
1,467 Units
A- Average Location Rating
A Average Improvements Rating
IMPROVEMENTS RATING BY UNITS
BUILDING STORIES BY PROPERTIES EFFECTIVE BEDROOMS BY UNITS
PROPERTY AGE BY UNITS
1
SUBMARKET FUNDAMENTALS MARCH 2021
RENTAL RATES YEAR-OVER-YEAR ROLLING CHANGE VS MARKET
Rank out of53 Submarkets
95.3%Occupancy Rate
March 2021
15th
OCCUPANCY RATE VS MARKET
INVENTORY GROWTH COMPLETIONS AS % PRIOR INVENTORY
Rank out of 50 Submarkets
2.5%Y-o-Y Change
$1,448Average Rental Rate
March 2021
11th
Rank out of 53 Submarkets
41.4%Growth in 2021 -Projected Year End
608Units built in 2021 -Projected Year End
3rd
Woodruff Springs | Orlando Multifamily | 2
RENTAL ACTIVITY BY UNIT TYPE MARCH 2021
QUARTERLY YEAR-OVER-YEAR ROLLING CHANGE BY UNIT TYPE
# Units SqFt/Unit
2019 2020 2021
Unit Type Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
One Bedroom 775 689 -0.4% -1.2% -1.0% -0.2% -3.5% -5.6% -4.7% -0.5%
Two Bedrooms 775 1,047 1.1% 3.8% 4.4% 0.9% -1.3% -4.6% -5.1% 1.5%
Three Bedrooms 165 1,149 4.8% 9.7% 11.4% 3.0% -5.3% -9.2% -7.1% 3.3%
Other 12 458 -8.7% -9.2% -4.9% 7.0% -4.4% 2.9% -5.1% -4.4%
Overall 1,727 836 1.0% 2.6% 3.2% 0.8% -2.6% -5.5% -5.2% 0.9%
Rank out of 53 Submarkets
-0.5%Y-o-Y Change
Q1 2021
28th
Rank out of 53 Submarkets
$1,290Average Rental Rate
Q1 2021
11th
Average Rental RateRental Rate ChangeYear-over-Year
Rank out of 53 Submarkets
1.5%Y-o-Y Change
Q1 2021
19th
Rank out of 53 Submarkets
$1,511Average Rental Rate
Q1 2021
12th
Average Rental RateRental Rate ChangeYear-over-Year
TWO BEDROOM
ONE BEDROOM
Rank out of 53 Submarkets
3.3%Y-o-Y Change
Q1 2021
12th
Rank out of 53 Submarkets
$1,781Average Rental Rate
Q1 2021
17th
Average Rental RateRental Rate ChangeYear-over-Year
THREE BEDROOM
Woodruff Springs | Orlando Multifamily | 3
Unit CompletionsLifestyle vs Renters-by-Neccessity
Ranked * Growth # Units
Last 5 Years 11th/40 76.30% 898
2021 7th/29 41.45% 608
2022 N/A N/A N/A
* among submarkets with completions in this period
Ranked * Growth # Units
Last 5 Years 4th/45 76.30% 898
2021 3rd/33 41.45% 608
2022 N/A N/A N/A
Lifestyle Inventory Growth
Overall Inventory Growth
* Projected year-end completions
UNDER CONSTRUCTION PROPERTIES
PLANNED PROPERTIES
2Properties
608Units
Property Address # Units DeveloperConstruction Start
Completion Date
Rent-Up Start
Integra Crossings 801 Bella Verde Terrace, Sanford, FL 32771
348 Integra Land Company 01/2020 08/2021 12/2020
Broadstone Viridian 5038 Broadstone Reserve Circle, Sanford, FL 32771
260 Alliance Residential Company
01/2020 08/2021
Yardi® Matrix has no recorded planned properties in this Submarket
DEVELOPMENT ACTIVITY MARCH 2021
Woodruff Springs | Orlando Multifamily | 4
TRANSACTION ACTIVITY MARCH 2021
*partial year, ending March 2021
15 th Rank out of 53 Submarkets $184K Sale Price
per Unit
*partial year, ending March 2021
48 th Rank out of 53 Submarkets 0.2 Avg Properties
Sold per Year
SALES VOLUME - LAST 5 YEARSSALE PRICE (AVERAGE PER UNIT) - LAST 5 YEARS
MOST RECENT SALES
Rating Sale Price LoanProperty # Units Built Impr. Loc. Buyer Seller Sale Date Total (MM) Per SqFt Per Unit Maturity Amount (MM)
Lofts @ Savannah Park, The5724 Byron Anthony PlaceSanford, FL 32771
138 2015 A B+ LivCor Carter-Haston Real Estate Services
03/2021 $25.36 $226.23 $184K
Lofts @ Savannah Park, The5724 Byron Anthony PlaceSanford, FL 32771
138 2015 A B+ Carter-Haston Real Estate Services
Inland Real Estate Group
10/2016 $21.20 $189.12 $154K 2023 $14.00
Bell Lake Forest101 Integra Village TrailSanford, FL 32771
209 2015 A- A- Bell Partners Integra Land Company
10/2015 $33.50 $163.96 $160K 2023 $22.70
Ballantrae1950 Pebble Ridge LaneSanford, FL 32771
294 2002 A- B+ Northland Investment Corporation
Beachwold Residential
01/2008 $33.14 $90.33 $113K
Woodruff Springs | Orlando Multifamily | 5