Denver-Based AREIT Purchases $200M+ Of Orlando Industrial Properties

Five industrial properties in Orange County have traded hands, with Ares Real Estate Income Trust (AREIT) — a fund operated by Denver-based Ares Management Corporation — on the purchasing end of transactions totaling $203.9 million.

On the selling end were four different entities registered to New York-based Blackstone Inc. subsidiaries in New York and Chicago. All five sales took place Feb. 17.

Orange County records show the properties involved include:

  • 8633 Transport Drive, Orlando, which sold for $20.95 million. The property is 6.94 acres and features a 147,146-square-foot building constructed in 2008. Orange County documents show this property is used by Disney Cruise Lines. It last sold in 2015 for $9.3 million.
  • 8649 Transport Drive, Orlando, which sold for $21.7 million. The property is 7.28 acres and features a 145,158-square-foot building constructed in 2020. Orange County documents also refer to this building as being used by Disney. It last sold in 2015 for $400,000.
  • 8000 Vista Reserve Blvd., Orlando, which sold for $97.5 million. This property includes two parcels totaling roughly 40 acres and features two buildings totaling 578,730 square feet, both of which were built in 2019. It last sold in 2019 for $42.4 million.
  • 1925 Parks Oaks Ave., Orlando, which sold for $28.65 million. This property is 14.15 acres with one building constructed in 2007, that is 171,437 square feet. It last sold in 2016 for $13.8 million.
  • 7575 Chancellor Drive, Orlando, which sold for $34.78 million. This property is 8.17 acres and features a 210,660-square-foot building constructed in 1972. It last sold in 2014 for $11.43 million.

 

Source:  OBJ

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