Acquisition of the Florida Portfolio

On December 13, 2015 and according to previous announcement, Varia US Properties AG has secured the acquisition of a portfolio of 13 properties in Florida for a total acquisition cost of USD 75 million.

The portfolio is spread between the Orlando region, Jacksonville, Daytona and Pensacola. It comprises 1’686 units and almost 1 million rentable square feet.

The price per unit is USD 44’500 on average. Peak Capital Partners, sponsor of this deal, demonstrated the added-value opportunity, both in terms of management and of renovation.