The community is comprised of studio, one-, two- and three-bedroom units, which feature balconies, granite countertops, floor-to-ceiling windows, plank flooring, stainless steel appliances, and washer and dryers.

Situated in the city's South Eola/Thornton Park neighborhood, Citi Tower is located near a Publix grocery store and Lake Eola, which hosts more than 100 events every year. The property is additionally situated within walking distance to the city's central business district, as well as more than 185 restaurants, bars, stores and venues, including the Amway Center, Exploria Stadium and the Dr. Phillips Center for the Performing Arts.

Snell Properties has retained Bainbridge Partners to manage the property. Walker & Dunlop's Brian Moulder and Chris Chadbourne represented the seller in the transaction.

"We are beyond thrilled to add Citi Tower to our expanding portfolio," says Peter Colarulli, VP of Snell Properties. "Citi Tower's many strengths include high-quality construction, an unbeatable location in downtown and the coolest rooftop in Orlando."

Orlando's current employment rate of 2.9% exceeds its pre-COVID levels, according to the Bureau of Labor Statistics. In 2021, the city achieved the fifth highest economic growth of any major city in the US. Additionally, Zillow ranked Orlando as the ninth hottest housing market in the country this year.

"Citi Tower is our third successive acquisition in Central Florida; Orlando's thriving economy, impressive infrastructure and strong demographics make it an ideal market for investment," says Chris Hanessian, president of Snell Properties. "We look forward to continuing to grow our presence across the Southeast."