BTI Partners, a leading real estate developer and land investor, has closed on the sale of two additional parcels of land in the 130-acre master planned community known as Posner Park. As the master developer, the company and its partners sold 21.5 acres to Posner Group Holdings LLC for $4.1 million and another 9 acres to Cadence Partners for $1.1 million. Posner Park is located on US 27 off the I-4 interchange, just southwest of the Orlando Metro area near Davenport, Florida. Posner Group Holdings LLC plans to develop the site into a vacation home community that will include approximately 240 townhomes, a pool, sports court, recreation center and clubhouse. Cadence Partners intends to build 80,000 square feet of flex office space that can be used for a variety of uses.
“Many of the over 75 million annual visitors to Metro Orlando look for more spacious accommodations than can typically be found in a hotel. The short-term vacation rental market has been strong in southwest Orlando for over 30 years and has been even more popular in recent years,” said Andy Slowik of Cushman & Wakefield, who brokered both transactions. “With all the growth in this corridor, the Cadence project should readily fill with tenants.”BTI Partners recently sold 18 acres to Wisconsin developer Continental Properties, which is currently building a 288-unit apartment complex in Posner Village. Continental Properties is the eighth largest multifamily developer in the United states. In 2018, it delivered 3,140 new apartments.
“The strong interest in City Center at Posner Park is attributable to the property’s close proximity to the theme parks and entertainment centers in Orlando and its surrounding areas,” said Noah Breakstone, CEO of BTI Partners. “These deals continue to demonstrate a growing appetite for well-located land in Central Florida, a region with one of the largest demographic and job growth in the nation.”In 2017, BTI Partners sold 30 of the 130 acres to Intram Investments Inc., a Florida-based real estate development and restaurant investment company. Intram completed phase one of approximately 200,000 square feet of retail. BTI Partners is known for acquiring land tracts ideal for master planned communities, managing horizontal development and then partnering with homebuilders for the actual delivery of homes. Since 2010, BTI Partners, with its institutional investors, has acquired or controlled more than 20,000 residential lots and today is a trusted land supplier to several national homebuilders. BTI Partners recently acquired 1,400 acres of undeveloped land located in Osceola County, about 20 miles south of downtown Orlando and west of Davenport.
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