Cortland Purchases Champions Gate Apartment Site In Orlando For $5.35 Million
The Land Advisors Organization’s Orlando team of Mike Ripley and Steve Flanagan, acting as a transaction broker, arranged the sale of the 17-acre parcel.
The Land Advisors Organization’s Orlando team of Mike Ripley and Steve Flanagan, acting as a transaction broker, arranged the sale of the 17-acre parcel.
Colliers’ Joe Rossi and Nick Hanson brokered the transaction.
The JLL Capital Markets investment sales team that represented the seller was led by Managing Director Jay Ballard and Managing Director Ken DelVillar.
The 330,000-square-foot community features one-, two- and three-bedroom apartments.
A hearing is scheduled for July 20 for the city of Orlando’s municipal planning board.
The company plans a ground up development of a multitenant industrial facility measuring approximately 200,000 and is beginning preconstruction leasing efforts for delivery in late 2022.
Scott Ramey, Patrick Dufour and Brad Downing of Newmark represented the seller, a joint partnership between Picerne Real Estate Group and Equity Resources LLC, in the transaction.
He is an industry veteran with over 37 years of experience in commercial real estate.
Mike Donaldson and Nick Meoli of Cushman & Wakefield represented the seller, ESO Equity Group, in the transaction.
Banyan Street Capital, a Miami-based private equity firm focused on acquiring and operating office properties, purchased the property in a joint venture with a fund managed by DRA Advisors.
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