Insula Companies News and Press

Insula Companies Hits $100M in Apartment Acquisitions for 2016

The firm has provided investors with a portfolio of more than 5,000 units and $450 million in assets in Florida multi-housing communities.
Insula Companies has reached the milestone of $100 million in property acquisitions this year with the recent purchase of Calibre Bend Apartments in Winter Park, Fla. The two-story, 212-unit property was purchased for $29 million from a private insurance company on Oct. 7.

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MultiHousingNews.com

Insula Companies Selected to Gator100
Firm Recognized for Growth, Entrepreneurial Spirit and Continued Success

gator 100 awardSARASOTA, Fla. – Insula Companies – a Sarasota-based firm specializing in apartment community acquisition and revitalization on behalf of investors – was named to the University of Florida’s (UF) 2017 Gator100 during a ceremony February 10, 2017, at UF’s J. Wayne Reitz Union Grand Ballroom.

Sponsored by the UF Alumni Association, in partnership with the UF Entrepreneurship & Innovation Center, the Gator100 recognizes the 100 fastest-growing businesses owned or led by UF alumni. Ernst & Young calculated each company’s compounded annual growth rate (CAGR) over the past three years to generate the ranking.

Read more: Insula Companies Selected to Gator100

CBRE Closes $31M Deal near Orlando
Altamonte Springs, Fla.—Michaelson Group purchased the recently renovated, 312-unit Charter Pointe from Insula Properties. CBRE has recently arranged the sale of Charter Pointe, a 312-unit community near Orlando, in Altamonte Springs, Fla. Jacksonville-based Michaelson Group acquired the asset for $31 million. Sarasota-based Insula Properties was the seller, represented by CBRE’s Shelton Granade, Luke Wickham and Justin Basquill.

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MultiHousingNews.com

Park East Apartments Sells for $17.5 Million

Insula Companies – a Sarasota-based firm specializing in apartment community acquisition and revitalization on behalf of investors – sold Park East Apartments in Tampa, Florida, to a private investor for $17.5 Million on September 1, 2016. Insula Companies has completed the sale of 5 revitalized properties in the past year, resulting in significant high-yield returns for its equity investors.

Read more: Park East Apartments Sells for $17.5 Million

Valencian Apartments in Kissimmee, FL Sold for $32.6 Million

Insula Companies has successfully completed the sale of Valencian Apartments in Kissimmee, Florida, to a private investor for $32.6 Million on October 3, 2016. Insula Companies has sold 5 revitalized properties in the past year, resulting in significant high-yield returns for its equity investors.

Read more: Valencian Apartments Sells for $32.6 Million

CBRE Brokers $32.6M Sale of Apartment Community in Metro Orlando
by John Nelson

KISSIMMEE, FLA. — CBRE has brokered the $32.6 Million sale of the Valencian Apartments, a 366-unit apartment community located in 1400 W. Donegan Ave. in Kissimmee, a suburb of Orlando. The Michaelson Group purchased the property from Insula Companies. Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented Insula Companies in the transaction. Valencian Apartments features one-, two- and three-bedroom residences with screened-in patios and modern kitchens. The two-story community recently underwent a $2.8 Million renovation to the exterior and in-unit amenities, including upgrades to the façade, clubhouse and the three resort-style pools.

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RebusinessOnline.com

Firm Surpasses $100M Mark in Apartment Deals

Sarasota-based Insula Cos., which has specialized in buying and revitalizing apartment communities since 2009, recently surpassed a major milestone with $100 Million in property acquisitions in one year.

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BusinessObserverFL.com Business Observer E-Blast (PDF)

A Little Love
By: Beth Luberecki

Company. Insula Cos.  Industry. Commercial real estate, multifamily Key. Insula Cos. has benefited from a thriving apartment market, but new supply and more competition present challenges.

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Insula Lands Luxury Asset in The City Beautiful
by Balazs Szekely

Orlando, Fla.—Insula Cos. has added The Glenn Apartments in Orlando to its portfolio of residential communities. The $42 Million deal marks the Sarasota-based company’s largest purchase to date, as well as its 25th strategic acquisition since the firm began operations in 2009.

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MultiHousingNews.com

Sarasota-Based Insula Companies Acquires The Glenn Apartments
in Orlando for $42 Million

Sarasota, Florida – January 14, 2016 – Insula Companies – a Sarasota-based firm specializing in apartment community acquisition and revitalization on behalf of private investors – is proud to announce the recent addition of The Glenn Apartments in Orlando, Florida, to its expanding portfolio of communities. The $42 Million purchase is the company’s largest project to date and marks the first strategic acquisition for Insula Companies in 2016 and the 25th since the firm began operations in 2009.

Read more: Insula Companies Acquires The Glenn Apartments in Orlando for $42 Million

Insula pays $42 Million
By John Hielscher

Sarasota-based Insula Companies just paid $42 Million for the 396-unit The Glenn Apartments in Orlando. The purchase is the largest for Insula, which buys and revitalizes multi-family properties. It marks the company's 25th purchase since opening in 2009.

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HeraldTribune.com

Apartment community near Mall at Millenia sells for $20.9M

BK Real Estate Fund LP has acquired Waterview, a 360-unit gated apartment community in south Orlando near the Mall at Millenia, from Insula Cos. for $20.9 Million.

CBRE Inc.’s Shelton Granade, Luke Wickham and Justin Basquill represented the seller in the transaction.

The complex — located at 4937 Waterway Court — was constructed in 1988 and occupies more than 31 acres along Lake Tyler. Amenities at Waterview include two swimming pools, a clubhouse, a fitness center, sport courts, a business center and an on-site laundry facility. The property was 95 percent occupied at the time of closing.

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bizjournals.com

Award Best Transaction 30 WestInsula Companies Wins MHN Excellence Award
The multifamily industry gathered in New York on October 14 to celebrate the 2015 MHN Excellence Award Winners. The MHN team announced Gold and Silver winners in 16 categories during a cocktail reception at Club 101 on Park Avenue.

Insula Companies received the Best Transaction Gold Award for the sale of 30 West Apartments, Bradenton, Florida.

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MultiHousingNews.com

DEAL OF THE DAY: Insula Properties Receive Funding Through Berkadia
By Balazs Szekely, Associate Editor

Tampa, Fla.—Berkadia originated loans for five multifamily properties in Central Florida and Tampa. The team that secured the financing on behalf of the owner of the properties, Insula Companies, was led by Senior Managing Director Mitch Sinberg, Managing Director Michael Wallace and Real Estate Analyst Matthew Robbins of Berkadia’s South Florida office.

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multihousingnews.com

$29.5 Million Acquisition Becomes Largest Asset for Sarasota-Based Insula Companies
Harbour Walk Apartments in Tampa Marks the Firm’s Ninth Purchase in 2015

Sarasota, Florida – October 1, 2015– Insula Companies – a Sarasota-based firm specializing in apartment community acquisition and revitalization on behalf of private investors – is proud to announce the recent addition of Harbour Walk Apartments in Tampa, Florida, to its expanding, carefully selected portfolio of communities. The $29.5 Million purchase is the company’s largest asset to date and marks the ninth strategic acquisition for Insula Companies in 2015 and the 24th since the firm began operations in 2009.

Read More: Insula Companies Acquires Harbour Walk Apartments For $29.5 Million

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TheBradentonTimes.com Tampa Bay Newswire

Sarasota-Based Insula Companies Acquires Apartment Community For $23 Million
This Florida Purchase Marks the Firm’s Eighth Acquisition in 2015

Sarasota, Florida – September 10, 2015 – Insula Companies – a Sarasota-based firm specializing in apartment community acquisition and revitalization on behalf of private investors – announces the recent acquisition of Charter Pointe Apartments in Altamonte Springs, Florida. This purchase marks the eighth for Insula Companies in 2015 and the 24rd since 2009. “We are excited to have acquired another lender-owned, 312-unit apartment complex out of foreclosure for a low price,” said Fred Cochran, President of Insula Companies. “The property represents an example of the unique opportunities we source for our private investors.”

Read More: Insula Companies Acquires Charter Pointe Apartments

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PRLog.com Bradenton Patch Sarasota Patch

Insula Buys Two Apartment Complexes

SARASOTA -- An apartment building buyer that notched a $25 Million sale this year in Bradenton has turned around and spent its gains on two apartment buildings elsewhere in Florida.

Insula Companies recently purchased two apartment complexes in separate transactions in Tallahassee and Altamonte Springs. According to a news release, the company purchased the 120-unit Club at Lake Jackson for $6.375 Million in the state's capital. It also spent $12.8 Million to buy the 164-unit Village Green Apartments in Altamonte Springs. Insula will put a total of $2.3 Million in improvements into the properties, according to the release.

In May, Insula sold the 30 West Apartments at 2835 50th Ave. W in May for $11 Million more than it bought it for in 2013.

Insula has a portfolio of more than 3,200 units and $200 Million in assets in Florida-based multi-housing complexes.

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HeraldTribune.com  TampaBayNewswire.com

30 West apartments in Bradenton sell for $25M

In the richest multifamily real estate deal in Manatee County so far this year, a Minnesota company has paid $25 million for a Bradenton apartment complex that went through foreclosure less than two years ago.

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bradenton.com

$25 Million buys 264-unit complex
Bradenton, Fla. – May 14, 2015 – Investors from Minnesota have purchased the 264-unit 30 West Apartments for $25 Million.

Insula Companies, a Sarasota firm that specializes in buying and fixing up apartment communities, sold the complex, formerly known as Braden Lakes. It had acquired it in 2013 for $14.3 Million.

The buyer is Timberland Properties, of Minneapolis, a property-management and investment company that owns more than 8,600 apartment units and 550,000 square feet of commercial space in 11 states.

Read More: 30 West Apartments Recent Sale

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Wall Street Journal Herald-Tribune.com Biz941.com Patch.com TampaBayNewsWire.com

Insula Companies Acquires Four Florida Apartment Communities
By Andie Lowenstein, Associate Editor

Sarasota, Fla.—Insula Companies, a Sarasota, Fla.-based firm focusing on apartment community acquisition and revitalization on behalf of investors, acquired four apartment communities in two separate transactions to start off 2015. The deals marked the 20th for Insula Companies since its entry to the Florida market in 2009, and the firm’s first venture into Pinellas County.

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MultiHousingNews.com

Kissimmee apartments sold for $4.5 Million
by Cindy Barth

Insula Companies paid $4.5 Million, or $34,615 per unit, for the Sun Club Apartments in Kissimmee, a 130-unit complex that was 98 percent occupied at the time of the sale.

Capstone Apartment Partners' Jad Richa, Enon Winkler, Deucie Bies and Brian Hunsicker represented the buyer in the transaction. Daniel Otten of Otten Realty was the listing agent on the transaction.

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BizJournals.com

Insula Cos. expands to 20 properties, buys Bryan Dairy Place, Forest Creek
Sarasota-based Insula Cos. purchased the 96-unit Bryan Dairy Place Apartments and the 104-unit Forest Creek Apartments for a combined $16.6 Million.

The combined price equated to $83,000 per unit. That figure is higher than the two-year average price per unit for multifamily space ($72,609) in the Tampa Bay area, according to the CoStar Group.

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businessobserverfl.com

Big Deals
Sarasota-based Insula Companies acquired four apartment communities in two separate transactions at the start of 2015, marking Insula’s 20th acquisition since entering the local Florida market in 2009 and the firm’s first foray into Pinellas County. The acquisitions include the 136-unit Rivermill Apartments at 12429 Little Road in Hudson for $5 Million; the 92-unit Village Square Apartments at 7110 Tudor Lane in Port Richey for $4.2 Million; the 104-unit Forest Creek Apartments in Largo for $7.6 Million; and the 96-unit Bryan Dairy Place Apartments, also in Largo, for $9 Million.

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941ceo.com

Insula Buys, Plans Upgrades to Rivermill, Village Square Apartments
Sarasota-based Insula Cos. purchased the 136-unit Rivermill Apartments in Hudson and 92-unit Village Square Apartments in Port Richey for a combined $9.2 Million.

The price equated to $40,351 per unit. That figure is lower than the two-year average price per unit for multifamily space ($72,609) in the Tampa Bay area, according to the CoStar Group.

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businessobserverfl.com

Sarasota-Based Insula Companies Kicks Off 2015 with Four Community Acquisitions
Includes Firm’s First Foray into Pinellas County

SARASOTA, Fla. – March 12, 2015 – Insula Companies – a Sarasota-based firm specializing in apartment community acquisition and revitalization on behalf of investors – announces the acquisition of four apartment communities in two separate transactions to kick off 2015. These acquisitions marked the 20th for Insula Companies since entering the local Florida market in 2009, and the firm’s first foray into Pinellas County. “With these recent entries into our growing portfolio, we continue our mission of making tangible improvements to yield substantial returns for our private investors,” said Fred Cochran, President of Insula Companies. “We are thrilled to enter the Pinellas and Pasco market, where we welcome the opportunity to bring exceptional results to the apartment communities we enhance and manage.”

Read more: Sarasota-Based Insula Companies Kicks Off 2015 with Four Community Acquisitions

Insula Companies Grabs Two C-Fla Communities

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The Belleza apartments in Kissimmee

Sarasota, Florida – Nov. 3, 2014 – Sarasota-based Insula Companies has recently announced two multifamily acquisitions. One of the properties is located in the Orlando Metropolitan Area in Kissimmee and the other in Lakeland, around halfway between Orlando and Tampa.

Established in 2009, Insula Companies is a group of privately held companies involved in the acquisition, improvement, and management of Florida and Georgia apartment communities. With properties in Orlando as well as Tampa, Jacksonville, Lakeland and throughout Southwest Florida, the partnership has provided investors with a portfolio of more than 3,300 units and $200 Million in assets in Florida-based complexes. Its acquisition strategy targets 15 to 40 years old class B or C properties with at least 150 units and value-add potential.

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MultiHousingNews.com CPExecutive.com

Sarasota-Based Insula Companies Acquires Two Central Florida Apartment Communities
Acquisitions Mark Firm’s 14th and 15th in Florida Since 2009

SARASOTA, Fla. – October 23, 2014 – Insula Companies – a Sarasota-based firm specializing in apartment community acquisition and revitalization on behalf of investors – announces two recent acquisitions to its portfolio of apartment communities. With the $10.3 Million purchase of Woodlake Gardens in Lakeland, Florida, and the $13.25 Million purchase of Belleza in Kissimmee, Florida, the firm has marked its 14th and 15th acquisitions since entering the local Florida market in 2009. “We are proud to add Woodlake Gardens and Belleza to our family of communities on behalf of our investors,” said Fred Cochran, President of Insula Companies. “Through these recent acquisitions, we continue to build on our positive record of bringing value through effective management services, widespread improvements and high occupancy rates.”

Read more: Insula Companies Acquires Woodlake Gardens and Belleza

Sarasota Firm Buys Tampa Apartment Complex

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Insula Companies – a Sarasota-based firm that specializes in turning around apartment complexes for private investors – has purchased the Park East Apartments in Tampa for $12.4 Million.

The deal becomes the Sarasota firm’s third Florida acquisition in 2014 and 13th in the state since 2009. The Park East Apartments, at 2020 East Bearss Ave. in Tampa, was built in 1987 and has 192 residential units.

Insula Companies has now expanded its portfolio of units under management to more than 3,360, the company said in a press release.

“Our management presence and improvement efforts at Park East Apartments in Tampa will serve to the ultimate benefit of local residents and businesses alike,” Insula president Fred Cochran said in a statement.

The firm now owns property in Atlanta, Orlando, Tampa, Jacksonville, Lakeland and throughout Southwest Florida. The company focuses on class B or C apartments with a minimum of 150 units, that are 15 to 40 years old, present value-added potential through cosmetic rehab, and have market-related or management induced problems.

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HeraldTribune.com  SRQMagazine.com

Insula Apartment Management LLC leased 5,836 square feet for five years at 240 S. Pineapple Ave., Suite 400, Sarasota, from 240 S. Pineapple -- Office Sarasota LLC. Jag Grewal, Amy Lyon MacDougall and Ian Black of Ian Black Real Estate handled the transaction.

Read More On HeraldTribune.com

Park East Apartments In North Tampa To Get Touch-Up

Sarasota-based Insula Companies is making another move into the Florida apartment arena with its $12 million purchase of the Park East Apartments on Bearss Avenue in North Tampa. This is the third apartment complex bought in Florida in 2014 and the 13th in the last five years.

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83degreesmedia.com

Sarasota-Based Insula Companies Expands Portfolio to 3,360 Apartments in
Southeast United States

Tampa Apartment Community Acquisition Marks Third Florida Purchase in 2014

Sarasota, Florida – July 15, 2014 – Insula Companies – a Sarasota-based firm specializing in apartment community acquisition and revitalization on behalf of private investors – is pleased to announce its third Florida acquisition in 2014 and 13th in the state since 2009. With the $12.4 Million purchase of Park East Apartments in Tampa, Florida, Insula Companies has expanded its portfolio of units under management to more than 3,360. “Our management presence and improvement efforts at Park East Apartments in Tampa will serve to the ultimate benefit of local residents and businesses alike,” said Fred Cochran, President of Insula Companies. “Through this acquisition, we continue our tradition of revitalizing distressed communities while building exceptional value and a channel for long-term growth for our investors,” said Jeff Talbot, Director of Acquisitions.

Read more: Insula Companies Purchases Park East Apartments in Tampa, Florida

2011 was Year of the Apartment, Statistics Show

There is mounting evidence that 2011 was the Year of the Apartment in Southwest Florida.

In the wake of the economic downturn, the number of households in the area shrunk, as young adults moved back home and more people moved in with roommates.

Households shrunk by 5,000 in Sarasota County and 2,000 in Manatee County from 2007 to 2010.

But that trend turned with a vengeance last year, with households jumping from 163,000 to 173,000 in Sarasota County and from 126,000 to 134,000 in Manatee County, and apartment vacancies shrunk, a Herald-Tribune analysis of U.S. Census data shows.

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Deals for Multifamily Complexes Reveal a Busy Sarasota Area Market

Photo Copyright: Insula Companies, Sarasota, FL

Florida's once-reeling multifamily market appears to be on the mend, evidenced by the latest in a series of apartment complex purchases.

Earlier this month, a Sarasota company, FL Beneva Place, paid $14.9 Million for the 193-unit Beneva Place complex near the intersection of Clark and Beneva roads. The seller was Sarasota Beneva Place Associates Ltd., a subsidiary of Chicago-based Equity Residential.

That followed Equity Residential's earlier sale of the 336-unit Sawgrass Cove Apartments in Bradenton in June for $23.2 Million. Other complexes sold recently include Cielo at Bradenton, a 299-unit property, and a 247-unit complex at 1001 Center Road in Venice.

Read The Complete Story On HeraldTribune.com

Sector Scorcher

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Photo by Mark Wemple.
Click here to see more.

Fred Cochran is the quintessential example of just how plentiful the opportunities are for bulk apartment buyers.

In the last 18 months alone, Cochran bought four buildings in the Orlando area with nearly 1,000 apartments out of foreclosure or other financial distress. His firm, Sarasota-based Insula Properties, buys the complexes, fixes up the apartments and rents them out again.

Cochran bought his first complex, Banyan Trail Apartments in Sarasota, mostly with a down payment from $300,000 or so in personal savings. He closed on the 82-apartment property, a few miles east of Interstate 75 of Bee Ridge Road, in July 2009. He paid $3.6 Million for it.

Read The Complete Story On BusinessObserverFL.com

Cochran Buys Orlando Complex for $7.6M

A Sarasota firm has bought a bank-owned west Orlando apartment complex for $7.6 Million, or $35,349 per unit.

FLR The Oaks LLC, whose managing member is real estate executive Fred Cochran, bought the 216-unit Highland Oaks Apartments at 4793 N. Pine Hills Road from Bank of New York Mellon Trust Co. NA, Orange County and state records showed. Shelton Granade Jr. and Luke Wickham of the CB Richard Ellis Multi-Housing Group in Orlando represented the seller in the transaction. Ann Arbor, Mich.-based McKinley Inc. was appointed receiver of the property in August 2009.

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Orlando Apartment Complex Sells for $9M

A distressed apartment property on the west side of Orlando was sold by the lender last month.

FLR Silver Oaks LLC, whose managing member is Sarasota real estate executive Fred Cochran, bought the 320-unit Silver Oaks Apartments on Silver Star Road east of Hiawassee Road for $9 Million from New York-based Silveroaks Florida LLC, Orange County and state records showed.

The property had an 82 percent occupancy at the time of the sale — the average in Orlando is now 92 percent.

The seller took over the property in 2006 for $19.8 Million, county records showed.

Shelton Granade Jr. and Luke Wickham with the CB Richard Ellis Central Florida Multi-Housing Group represented the seller in the deal. The buyer did not have a representative.

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