VIENNA, Va.–(BUSINESS WIRE)–Middleburg Communities, a fully integrated multifamily development, investment, construction and management company operating in the southeastern and mid-Atlantic United States, today announced the start of construction on Mosby Citrus Ridge, a Class A multifamily community located in Davenport, Florida, less than one hour from Orlando and Tampa. The project is being developed by a joint venture between Middleburg as development manager and Parse Capital, a subsidiary of The Wolff Company, as an investment partner.
Mosby Citrus Ridge is strategically located at 100 Orlando Breeze Circle along Highway 27 and Interstate 4. The community is less than one hour’s drive from many of the major economic drivers in Orlando and Tampa, including the corporate headquarters of numerous Fortune 500 companies, amusement parks, sporting arenas, world-class dining and entertainment and award-winning beaches. Middleburg leveraged its proprietary data and analytics platform to select the development site and identify its value potential.
“We are excited to further strengthen our footprint in the Orlando MSA, one of the fastest growing markets in the country,” said Chris Finlay, CEO of Middleburg Communities. “As a result of this growth, there is a significant need for the type of high-quality, attainable multifamily units we are developing at Mosby Citrus Ridge, especially along the heavily traveled I-4 corridor between Orlando and Tampa. Our vertical integration will help us maximize efficiencies and minimize disruptions throughout the construction process, enabling us to bring these units to market more quickly and manage them effectively so we can begin delivering returns for our investors and an exceptional living environment for local residents.”
Mosby Citrus Ridge will consist of five, 4-story luxury residential buildings, and will feature many resort-style amenities including, high-end interiors with luxe finishes, state-of-the-art technology throughout the community, a saltwater pool, a fully-equipped fitness center, outdoor pavilions with fire pits and grilling stations, a yoga lawn and more. The 300-unit lifestyle-oriented, attainable housing community will offer a variety of 1-, 2- and 3-bedroom floor plans, with monthly rents starting at less than $2,000. Construction on the multi-million dollar project is expected to be completed by May 2024.
About Middleburg Communities:
Middleburg Communities is a fully integrated multifamily development, investment, construction and management company operating in the southeastern and mid-Atlantic United States. Since 2004, Middleburg has acquired and developed more than 22,000 apartment units, executing over $3 billion in transactions. The Middleburg team shares a vision for greater value creation through community impact. The firm’s success is rooted in a genuine desire to serve its local communities in thoughtful and holistic ways. Middleburg embraces people, property, and partnerships to enhance the lives of others, contribute positively to its neighborhoods and maximize real returns for partners. For more information, please visit www.MiddleburgCommunities.com
About Parse Capital:
About Parse Capital: Parse Capital, a subsidiary of The Wolff Company, is a provider of joint-venture and preferred equity alongside sponsors for the development, recapitalization, and acquisition of residential communities within the United States. The Wolff Company is a fully-integrated real estate firm that traces its legacy back to 1949. Wolff focuses its investment activity within the residential sector and has acquired or developed over 50,000 residential units since inception. For more information, please visit Parse at www.parsecap.com and The Wolff Company at www.awolff.com.
