First National Realty Partners acquires Champion Townhomes in Davenport

First National Realty Partners (FNRP), a commercial real estate private equity firm, has announced its acquisition of Champion Townhomes, a multifamily property in Davenport, Florida, in a strategic move to expand its footprint in the necessity-based commercial real estate sector.

This acquisition is a significant part of First National Realty Partners’ ongoing growth strategy in the realm of necessity-based real estate.

The Champion Townhomes property, situated near Orlando, Florida, is a recently constructed residential asset, boasting 132 thoughtfully designed units. These units, primarily two and three bedrooms, come outfitted with premium finishes including granite countertops, double sink vanities, modern wood/tile flooring, and energy-efficient double-pane windows.

The property further enhances resident lifestyle with amenities such as a sparkling pool, a dog park, in-unit washer/dryer facilities, and private garage spaces.

With its proximity to Orlando and Winter Haven, the Champion Townhomes asset is advantageously positioned to benefit from a burgeoning local population, which saw an average growth rate of 13.5% from 2010 to 2020.

Additionally, the property’s strategic location near major employers and attractions, including Walt Disney World, AdventHealth, Publix, and a host of other Florida theme parks, further augments its appeal. The average household income within a five-mile radius of the property stands at $51,000.

The acquisition deal was co-sponsored by Southport Financial.

Eduardo Viesca of First National Realty Partners said: “We believe that multi-family has remained a durable investment in periods of economic uncertainty.

“Due to an increase in home prices and interest rates, home ownership is not an option for many, leaving them searching for affordable housing options like Champion Townhomes. This along with the area’s strong market and affluent demographics make it an attractive investment.”