Gaia Real Estate

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New York, N.Y November 2023 Gaia Real Estate buys First Sunbelt Multifamily Property,. After exiting selling most of its portfolio in 2021-2022 realizing IRR OVER 37% across 63 assets. Closes on 269-Unit Class A Multifamily Property in Orlando, Florida. “Though the capital markets environment remains volatile, current pricing for Class A multifamily assets is 30%-40% below the 2021-2022 peak, providing GAIA a great buying opportunity in a down cycle.” Said Danny Fishman CEO of GAIA. Constructed in 2022, Avila is 3-story garden-style property located in Oviedo, one of Orlando’s most desirable suburban submarkets. The property is fully leased and features a best-in-class amenity offering central courtyard with fire pit, grilling stations, resort-style swimming pool, expansive community areas, 24-hr fitness center, and co-working suites. Apartment interiors include quartz countertops, stainless steel appliances, modern lighting package, wood-vinyl flooring, and Italian-imported cabinetry. Further, the property boasts elevators in each building and air-conditioned corridors, differentiating Avila from its competition. Nearby employers include UCF, Central Florida Research Park, Siemens, Lockheed Martin, and Advent Health. “While selling most of our Sunbelt portfolio in 2021-2022 at 3% cap rates, GAIA completed multiple opportunistic acquisitions in NYC through COVID,” said Danny Fishman, CEO of GAIA. “Now GAIA is returning to the Sunbelt where we see a time-sensitive buying opportunity created by a lack of liquidity. We believe that the high levels of supply in our target markets are cyclical and will be absorbed by strong, structural demand. Following the new deliveries and absorption in 2024-2025, a period of record low new supply in these same markets will support a return to positive long-term fundamentals. In the meantime, we are excited by the ability to acquire Class A institutional-quality assets well below 2021-2022 peak values and materially below replacement cost.” Attorneys Moty Ben Yona and Brandon Dodd of Smith, Gambrell & Russell LLP represented GAIA in the transaction. About GAIA Real Estate GAIA Real Estate Holdings is headquartered in New York City. GAIA is a full-service real estate investment company with integrated in-house management capabilities. Since its inception in 2009, GAIA and its affiliates have invested in a range of residential real estate opportunities on behalf of, and alongside, leading institutional investors and high-net-worth individuals. GAIA has owned over 19,000 apartment units and 85 properties, representing $3.7b of total asset value. GAIA’s realized IRR across 63 exited assets is over 37%. #multifamily #floridarealestate #sunbeltrentals #irr #apartmentinvesting #economic #interestrate