DAVENPORT, Fla. — Virtus Real Estate Capital and Blaze Capital Partners have acquired The Pointe at Siena Ridge, a 163-unit active adult community in Davenport, a suburb southwest of Orlando.
This is Blaze’s fourth acquisition in the active adult sector over the past five months following Hardy Springs in the Paulding County submarket of Atlanta; Annabelle on Main in the Duluth submarket of Atlanta; and Sage Stone Oak in San Antonio, Texas. The Pointe at Siena Ridge is Blaze’s first active adult investment in Florida.
“As the baby boomer generation reaches retirement age, they are downsizing and hitting key life events that are motivating them to move in large numbers to the Sun Belt region,” says Eddy O’Brien, co-founder and managing partner of Blaze. “Fundamentally, the U.S. is lacking a stock of housing solutions for this cohort, especially those with more active views of retirement, in the face of mounting demand.
The Pointe at Siena Ridge was constructed in 2021 and features a mix of one- and two-bedroom apartments ranging in size from 753 to 1,046 square feet.
The community is located within the walkable, mixed-use development Posner Park, which offers a wide variety of retailers and restaurants including Target, Burlington, Marshall’s, Dick’s Sporting Goods, Starbucks, Chipotle and First Watch, as well as a Cinepolis IMAX movie theater.
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