Toro Real Estate Partners buys three Florida resi properties for $39m

Toro Real Estate Partners has acquired three multifamily properties in Florida for just under $39m. Located in Jacksonville, Whispering Oaks, Highlander Apartments and River City Landing offer 552 units in total. Toro Real Estate Partners is planning to spend an additional $4m on exterior amenity enhancements, rebranding and interior improvements. The company now operates more than 3,100 units nationwide. “Jacksonville is an exciting market that we are looking to continue to grow in and acquire a sizable portfolio to hold for the next three to seven years. With its excellent population growth, low unemployment and positive ratio for supply and demand, we see Jacksonville as a market we want to be in for the foreseeable future in the multifamily space,” said John Cohen of Toro Real Estate Partners.