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.”

Similar Stories:

Brookdale Senior Living secures $327m in financing
Berkadia has secured $327m in fixed- and variable-rate financing for Brookdale Senior Livi  »
Beachwold Residential acquires Hibiscus Springs Rental Homes for $60m
Beachwold Residential acquired the 470-unit Hibiscus Springs Rental Homes in Spring Hill,  »
River Pointe Apartments sells for $19.3m in Tampa
Coastline Management Group bought River Pointe Apartments, a class B community in Tampa, F  »
Redwood Capital Group buys Ancora Apartments in Orlando for $65m
Redwood Capital Group acquired Ancora Apartments in Orlando’s Lake Bryan submarket from  »
Hurricane Hermine had the entire state of Florida on the edge of its seat in September. It   »
South Florida’s condo market is readying for a soft landing rather than the crash that m   »
There are approximately 17,000 units in Miami in presale, sold or under construction. Abou   »
The same year Orange County builders pulled 11,000. Fast forward to 2010 and those numbers   »