Lake Crossing

Lake Crossing is a 264-unit, garden-style multifamily community in northwest Gainesville and one of six assets in a 1,432-unit portfolio that Westlight Capital acquired in January 2026 from the family of the original developer at a blended 6.75% going-in yield and a 50% discount to replacement cost. Built in 1996 across 15 buildings on 20 acres, the property includes a 1.5-acre parcel with future development potential fronting NW 39th Avenue and is within two miles of two Publix-anchored retail centers. Westlight's business plan is to optimize operating expenses, increase ancillary income, renovate the units and improve the common areas and amenities. The asset is currently operating ahead of its underwritten business plan, and Westlight believes there will be further accretion to returns from selling the six communities individually rather than as a portfolio.