Lakeside at Winter Park

Lakeside at Winter Park, formerly known as Park at Sutton Place, was purchase by RADCO is 2016 and was a classic value-add business plan execution. Built in 1986, the property was a solid Class B apartment community in an A+ location when RADCO acquired the asset. RADCO had been strategically targeting Central Florida, and specifically Orlando, as market research exploring migration patterns, cost-of-living, job growth, and available housing to projected growth comparisons all showcased favorable metrics for apartment investing. At Lakeside at Winter Park, a large portion of the tenancy were students at nearby Full Sail University, a unique year-round university focusing on film and graphic design. RADCO’s value-add plan kept this demographic in mind, and focus was spent on redesigning outdated amenities like an indoor racquetball court into a film studio and rock-climbing gym and added a desirable dog park. At acquisition, one of the two pools was not functional, so RADCO brought it back online and upgraded both pools to include common area space and cool furniture. Additionally, the exteriors were painted and modernized while unit interiors were renovated to appeal to the target tenant base. During its four-year ownership, RADCO modernized a tired community and while executing a quintessential value-add business plan.

---