PRM buys Orlando land for development of 300 apartments

PRM buys Orlando land for development of 300 apartments

Published at: 2018-01-08 15:26 | Author: CIJ USA
Massachusetts-based Panther Residential Management (PRM) and Orlando, FL-based Integra Land Company (ILC) have closed on the purchase of 10-acre site in unincorporated Osceola County. The property, near the intersection of State Road 535 and Osceola Parkway, has been preapproved for 300 multifamily units. Cushman & Wakefield represented Intram Investments in the $4.85 million deal. The buyers also hold the right of first refusal for one year on the purchase of roughly adjacent acres, permitting two additional phases of multifamily development totaling 676 units. The joint venture buyers have already broke ground on the project, which will be named Sunrise Parc “This site is an ideal location for Orlando’s newest multifamily community,” said Senior Director Jay Ballard, Cushman & Wakefield. “It is positioned among Orlando’s top performing retail centers at the gateway to the Disney theme parks in Orlando’s renowned tourist corridor.”

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