Sale and acquisition loan secured for Heritage Estates in East Orlando

ORLANDO, Jan. 21, 2026 –  JLL Capital Markets announced today that it has secured the sale and financing of Heritage Estates, a 230-unit garden-style apartment community in East Orlando, Florida.

JLL represented the seller, CenterSquare Investment Management. The buyer was Knightvest Capital. JLL also represented the borrower in securing the loan.

Built in 2003, Heritage Estates is located at 11701 Heritage Estates Ave. in Orlando's thriving East submarket. The community features nine floor plans ranging from one- to three-bedroom units, averaging 1,158 square feet. The property offers extensive amenities including a resort-style pool, 24-hour fitness center, clubhouse with entertainment lounge, dog park with pet washing station and detached garage parking.

Heritage Estates benefits from its strategic location just minutes from major employment centers including the University of Central Florida, Central Florida Research Park and Lockheed Martin facilities, which collectively employ over 110,000 professionals. The property is also situated five minutes from Waterford Lakes Town Center, Florida's most-visited lifestyle destination attracting 14.3 million visitors annually.

The East Orlando submarket has experienced limited new supply with only five apartment communities delivered since 2010 and no properties currently under construction within a three-mile radius. The area is projected to see average rent growth of 2.52% annually over the next five years, outpacing the broader Orlando metropolitan area.

JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Directors Kyle Butler and Ted Taylor and Analyst Megan Magee. Senior Managing Director Mark Brandenburg arranged the financing.

"Heritage Estates represents a compelling value-add opportunity in one of Orlando's most supply-constrained submarkets," said Butler. "The property's proximity to major employers and lifestyle amenities, combined with significant renovation upside, made it an attractive investment for the buyer."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 113,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com. 

Founded in 1987, CenterSquare Investment Management is an independent, employee-owned real asset manager focused on listed real estate, private equity real estate and private real estate debt. As a trusted fiduciary, our success is firmly rooted in aligning our interests with those of our clients, partners and employees. CenterSquare is headquartered in suburban Philadelphia, with offices in New York, Los Angeles, London and Singapore. With $14 billion in assets under management (October 2025), CenterSquare is proud to manage investments on behalf of some of the world's most well-known institutional and private investors. For more information, please visit www.centersquare.com.

Knightvest is an industry-leading multifamily investment and management firm known for creating communities of excellence and delivering dependable results that enable investors, employees, and residents to thrive. As a vertically integrated firm, Knightvest specializes in renovating and repositioning multifamily properties. Its unique approach is focused on setting a new standard in design-driven quality, executing with operational efficiency, and leading with a people-first culture. Since its founding in 2007, Knightvest has invested over $10 billion to acquire over 60,000 units across high-growth metro areas in Texas, Arizona, the Carolinas, and Florida to become one of the largest apartment owners in the United States For more information, please visit KnightvestCapital.com and follow us on LinkedIn.