Multi-Family Residential Developments

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  • Wendover preps Sanford affordable housing for homeless & mentally disabled

    Wendover preps Sanford affordable housing for homeless & mentally disabled

    Altamonte Springs-based Wendover Housing Partners is nearing approval to build a multifamily community in Sanford that would provide affordable housing for the homeless and those suffering from mental illness. Dubbed "Warley Park," the 85-unit complex at 1500 W. 25th St. would be built with state...

  • Developer revising Davenport mixed-use project to add density, apartment rentals

    Developer revising Davenport mixed-use project to add density, apartment rentals

    Lake Wales physician and real estate developer Hasan Mousli is tweaking his Champion Center mixed-use project on Davenport Boulevard to increase density, swapping some townhomes for rental apartments. The 14-acre project just east of Holly Hill Road was initially approved in 2016 for 106 townhomes...

  • Aventura-based multifamily investor pays $68.5M to enter Clermont market

    Aventura-based multifamily investor pays $68.5M to enter Clermont market

    An Aventura-based multifamily investor paid $68.5 million last week for its fourth property in Greater Orlando, buying a new complex in Clermont with its sights set on more core-plus properties in the region. An affiliate of Advenir LLC bought the year-old, 328-unit Veve at Castle Hill apartments...

  • Kissimmee active adult apartments across from The LOOP sell for $29.5M

    Kissimmee active adult apartments across from The LOOP sell for $29.5M

    One of the busiest multifamily developers in Kissimmee's LOOP/Tupperware submarket has sold an active-adult apartment complex to a national real estate investment firm for $29.5 million. Palm Beach Gardens-based Eastwind Development and co-developer Index Investment Group built the four-story,...

  • Taurus nears permit & groundbreaking on Phase 1 of Apopka City Center

    Taurus nears permit & groundbreaking on Phase 1 of Apopka City Center

    Site work on the first-phase hotel at Apopka City Center should begin in the third quarter by developer Taurus Southern Investments, with key widening of public roads by the city to follow before year's end, a lead executive with the company told GrowthSpotter.  Apopka's City Council reviewed a...

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  • Houston-based multifamily group pays $41M to enter Orlando market, flips land

    Houston-based multifamily group pays $41M to enter Orlando market, flips land

    Houston-based multifamily investor The Dinerstein Companies paid $41 million on Monday to enter the Orlando market, buying a 212-unit property and then flipping the land beneath it that same day to a New York investment group. Located at 4000 Maguire Blvd., near Baldwin Park and northeast of downtown...

  • New apartments, retail planned on former state-owned land in Kissimmee

    New apartments, retail planned on former state-owned land in Kissimmee

    A Dominican family investment group paid $2.69 million last year for state surplus property on Kissimmee's busy John Young Parkway (JYP) and now wants to rezone it for apartments and retail. Florida Site Selectors has applied to the city for a land use change for high-density multifamily on 15...

  • National multifamily group pays $81M+ to enter Orlando student housing market

    National multifamily group pays $81M+ to enter Orlando student housing market

    Atlanta-based Preferred Apartment Communities paid more than $81.72 million last week for a 221-unit, 894-bed student housing community near the University of Central Florida, with the seller turning an estimated $9.2 million profit in less than three years.  Located about three miles south of...

  • Tampa-based multifamily group enters Kissimmee market via portfolio buy

    Tampa-based multifamily group enters Kissimmee market via portfolio buy

    Tampa-based multifamily investor American Landmark paid $69.767 million on Wednesday for a 432-unit property in Kissimmee, part of a four-asset portfolio deal totaling 1,212 units across three states.  Located at 3101 Segreto Lane, the former Bella Apartments date to 2010 and were 96 percent occupied...

  • TH Real Estate pays $55.5M for apts near UCF, its 3rd local asset buy in May

    TH Real Estate pays $55.5M for apts near UCF, its 3rd local asset buy in May

    An affiliate of New York-based TH Real Estate paid $55.5 million last week for the 336-unit Arden Villas apartments in east Orlando near the University of Central Florida, marking its third local acquisition in the past month.  Located at 3303 Arden Villas Blvd., less than a mile west of UCF's...

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  • Blackstone affiliate pays $60M+ for apartments in East Orange

    Blackstone affiliate pays $60M+ for apartments in East Orange

    A multifamily affiliate of New York-based Blackstone Group, one of the world's largest private equity firms, paid $60.88 million on Wednesday for the 396-unit Knightsbridge at Stoneybrook apartments in east Orange County, part of a five-asset portfolio deal that totaled $279.72 million. Located...

  • University Club buys space in new downtown Orlando tower, preps buildout

    University Club buys space in new downtown Orlando tower, preps buildout

    The University Club of Orlando paid more than $2.135 million on Friday for four floors of space in the new Modera Central tower in downtown Orlando, and could begin buildout in two weeks with a goal of opening by year's end, its president told GrowthSpotter.  Addressed at 125 E. Pine St., the 22-story...

  • InVictus seeks more incentives from city for Parramore mixed-income housing project

    InVictus seeks more incentives from city for Parramore mixed-income housing project

    Tampa-based InVictus Development is asking for another $500,000 in incentives from the city of Orlando for its "Parramore Oaks" affordable housing project in downtown, and has reduced costs and contractor fees across the board to control an inflated budget.  Orlando's City Council will consider...

  • Pinnacle Housing eyes site near ChampionsGate for apts & townhomes

    Pinnacle Housing eyes site near ChampionsGate for apts & townhomes

    Miami-based multifamily developer Pinnacle Housing Group has 39 acres under contract next to the ChampionsGate Country Club golf course, and is planning a mix of apartments and fee-simple townhomes on the site. Pinnacle specializes in developing affordable workforce and senior housing, but Regional...

  • TH Real Estate pays $66M+ for SoDo Orlando apts, 2nd local asset buy in May

    TH Real Estate pays $66M+ for SoDo Orlando apts, 2nd local asset buy in May

    An affiliate of TH Real Estate paid $66.5 million on Friday for the 300-unit Lofts at SoDo apartments in south downtown Orlando, marking its second local multifamily purchase this month.  Located at 100 W. Grant St., the five-story mid-rise apartment building was built in 2008-09 by Wood Partners...

  • Former Pittsburgh furniture magnate spends $60M+ on new Longwood apts

    Former Pittsburgh furniture magnate spends $60M+ on new Longwood apts

    The former owner of a 98-year-old, Pittsburgh-based furniture chain recently plowed some profits from the company's sale into a $60.06 million purchase of Class A apartments in Longwood. Robert Levin, former president of Levin Furniture Co., joined with two investors to buy the 286-unit Alexander...

  • Orlando mulls mandate for affordable units in new multifamily seeking density bonus

    Orlando mulls mandate for affordable units in new multifamily seeking density bonus

    The city of Orlando is considering new policy that would require multifamily developers seeking a density bonus to dedidate units for affordable housing, a move that would impact development costs in downtown more than any submarket.  The new policy is part of a bigger regional effort to address...

  • Sarasota housing investor buys former motel-turned-HUD apts in west Orlando

    Sarasota housing investor buys former motel-turned-HUD apts in west Orlando

    A Sarasota-based affordable housing operator paid $3.424 million on Friday for a motel-turned-apartment complex in west Orlando, with another $4 million in immediate investment planned to change the asset's profile.  The 4.6-acre property was formerly a crime-ridden weekly 214-room motel operating...

  • Bluerock REIT pays $62M+ for new Class A apartments near SeaWorld

    Bluerock REIT pays $62M+ for new Class A apartments near SeaWorld

    An affiliate of Bluerock Residential Growth REIT paid $62.85 million on Thursday for it's sixth multifamily property in Greater Orlando, buying a 268-unit Class A project built less than a year ago. Located at 6901 Westwood Blvd., with frontage on Interstate 4 and less than a mile from SeaWorld,...

  • New TOD development booming around some SunRail stations, but Sanford lags

    New TOD development booming around some SunRail stations, but Sanford lags

    SunRail's planned extension to DeLand is still very much up in the air, but that hasn't stalled developer interest around the northernmost station in DeBary. Integra Land Co. expects to break ground this summer on a 289-unit luxury apartment community at the DeBary Town Center, a five-minute walk...

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  • International CRE group pays $72M+ for new Casselberry apartments complex

    International CRE group pays $72M+ for new Casselberry apartments complex

    An affiliate of real estate investment management group TH Real Estate paid $72.25 million last week for a new Class A apartments complex in Casselberry, its second local acquisition in the past seven months. The company bought the 336-unit former Bainbridge Casselberry apartments that were built...

  • Harbor Group pays $64M+ for 3rd Orlando-area new Class A apts asset

    Harbor Group pays $64M+ for 3rd Orlando-area new Class A apts asset

    Virginia-based commercial real estate investors Harbor Group International paid $64.5 million on Monday for its third multifamily property in Greater Orlando bought in the past 18 months.  Located at 7261 Crossroads Garden Drive, the 314-unit former Alexan Crossroads apartments anchors a main 12.73-acre...

  • Developer reworks design for Sanford student housing on wetland-heavy site

    Developer reworks design for Sanford student housing on wetland-heavy site

    Winter Park-based Pennington Development Group is working through value engineering and design revisions for a new student housing complex near Seminole State College in Sanford, in order to accommodate a site that is 70 percent wetlands.  The project has been floating on the edge of developer ...

  • Osceola Commissioners approve $2.2M land buy for OHP expansion

    Osceola Commissioners approve $2.2M land buy for OHP expansion

    Osceola County Commissioners bought another key parcel for the future expansion of Osceola Heritage Park, voting Monday to pay $2.2 million for an 11-unit rental community on Fortune Road.  The Keston Park complex consists of two three-bedroom/two-bath units and nine five-bedroom/three-bath units....

  • National multifamily group files lakefront plans to anchor 65-acre site in Dr. Phillips

    National multifamily group files lakefront plans to anchor 65-acre site in Dr. Phillips

    An affiliate of developer Jefferson Apartment Group filed plans Friday for a lakefront multifamily project in Orlando's tourism corridor, emerging as the long-anticipated anchor for 65 acres surrounding Boo Boo Lake.  Located at 9200 Turkey Lake Road, the Jefferson project site covers a 24.5-acre...

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  • Michaelson & partners drop $16.8M on Orlando apts complex in off-market deal

    Michaelson & partners drop $16.8M on Orlando apts complex in off-market deal

    Jacksonville-based multifamily owner-operator Michaelson Real Estate Group paid $16.85 million on Wednesday for the 160-unit Casienna Apartments in south Orlando, marking its 20th property in Greater Orlando. Located at 5703 Stoneridge Court, based on the corner of W. Oak Ridge Road and S. Texas...

  • Kissimmee W192 Lake Cecile site eyed for new condo resort community

    Kissimmee W192 Lake Cecile site eyed for new condo resort community

    A Brazilian multifamily developer is planning its Orlando entry via Kissimmee with a $30 million condominium project on the W192 tourism corridor. Four Seasons Company partner Ricardo Amaral and his representatives met this week with Osceola County's Development Review Committee to discuss developing...

  • Developer ready to revive dormant Snow White Village apartment project

    Developer ready to revive dormant Snow White Village apartment project

    Representatives for The Jaymor Group met Wednesday with Osceola's Development Review Committee to discuss building a 304-unit apartment complex on the site of the former Snow White Village trailer park in Kissimmee's tourism corridor. Jaymor is based in Canada, and specializes in multifamily and...

  • Design evolves for tri-tower project in downtown Orlando w/green elements

    Design evolves for tri-tower project in downtown Orlando w/green elements

    Manhattan-based developer Property Markets Group (PMG) is pushing new green design elements for its proposed three-tower residential project in downtown Orlando, and has drawn city staff feedback this week that is complimentary and critical of some aspects.  The company filed plans last month for downtown's...

  • Camden buys downtown Orlando site, will lead completion of multifamily project

    Camden buys downtown Orlando site, will lead completion of multifamily project

    Camden Property Trust is taking the reins on completing development of Jefferson Apartment Group's second multifamily project in downtown Orlando's Thornton Park, paying more than $11.3 million for the land and opportunity to brand the building.  Jefferson's sale, which closed April 12 and was...

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  • Developer readies mixed-use plans with multifamily for SE Lake Nona corner

    Developer readies mixed-use plans with multifamily for SE Lake Nona corner

    South Florida-based Futura Development Company has settled on its mixed-use lineup for more than 9 acres in southeast Lake Nona, filing plans this week with an eye toward groundbreaking in First Quarter 2019.  The developer submitted its Master Plan on Monday to the city of Orlando for a project...

  • Seattle-based investors enter Orlando w/student housing near UCF, seek more

    Seattle-based investors enter Orlando w/student housing near UCF, seek more

    Seattle-based Horizon Realty Advisors paid $23.25 million last week to enter Orlando's multifamily market, buying a 96-unit student housing property near the University of Central Florida off market that previously traded just 18 months ago.  Located at 10200 University Blvd., the 9.72-acre parcel...

  • Disney files plan for second large apartments complex at Flamingo Crossings

    Disney files plan for second large apartments complex at Flamingo Crossings

    The Walt Disney Company is doubling down on new housing for much of its Flamingo Crossings property, filing plans Monday for nearly 1,300 apartments on land west of the boulevard that was previously earmarked for commercial.  Located south of where Flagler Avenue and the newly extended Western...

  • Park Square's Gupta ready to break ground on ChampionsGate-area hotel

    Park Square's Gupta ready to break ground on ChampionsGate-area hotel

    A development group led by Park Square Homes CEO Suresh Gupta should break ground soon on a new $11 million WoodSpring Suites extended-stay hotel in the Four Corners area. The 106-key, all-suite hotel is the second phase of Gupta's Champions Plaza project, a 38-acre town center at the southeast...

  • Kissimmee cancels selection of affordable housing developer, plans to rebid

    Kissimmee cancels selection of affordable housing developer, plans to rebid

    The city of Kissimmee has canceled a February solicitation for developers to build affordable housing on 19 acres just west of downtown, and plans to rebid the project at a later date. In their rush to select a developer, city officials overlooked the fact that the project was ineligible for Low...

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  • NY-based Gamma pays $50M+ to enter Orlando multifamily market via I-Drive

    NY-based Gamma pays $50M+ to enter Orlando multifamily market via I-Drive

    An affiliate of New York-based investors Gamma Real Estate paid $50.1 million on Wednesday to enter Orlando's multifamily market, and is actively pursuing more Class-A assets across Central Florida, a lead executive with the company told GrowthSpotter.  The company bought the 264-unit Pavilion...

  • Starwood REIT takes down five more LIHTC apt complexes in Orlando area

    Starwood REIT takes down five more LIHTC apt complexes in Orlando area

    An affiliate of national REIT Starwood Property Trust paid another $167.435 million last week for five more affordable apartment properties in Orange County, bringing its phased portfolio takedown to 12 low-income housing assets in Greater Orlando since late December. They're all part of a $600...

  • TruAmerica buys fifth Orlando-area multifamily asset, may seek more

    TruAmerica buys fifth Orlando-area multifamily asset, may seek more

    Los Angeles-based TruAmerica Multifamily recently paid $49.7 million for its fifth apartment complex in the Greater Orlando market, with another $4 million to follow this year in renovations, a lead executive with the company told GrowthSpotter.  The investment group bought the 368-unit Astor Park...

  • Banner buys two thirds of land assemblage for downtown Orlando apts project

    Banner buys two thirds of land assemblage for downtown Orlando apts project

    Illinois-based multifamily developer Banner Real Estate Group paid $3.26 million this week for two thirds of the land it needs for a planned 13-story apartment project in downtown Orlando, with the remainder likely to close in the next month. This would be Banner's entry to the Central Florida...

  • Tupperware prepping 20 acres near SunRail station for MF developer

    Tupperware prepping 20 acres near SunRail station for MF developer

    Tupperware Brands is preparing a 20-acre site at Orange Avenue and Osceola Parkway for up to 400 apartments in hopes of landing a multifamily developer, a company executive said on Thursday. The site is directly across from the new Orlando Health medical complex, and within walking distance of...

  • Kissimmee to pick affordable housing provider for free land in March

    Kissimmee to pick affordable housing provider for free land in March

    Two local developers adept at dealing with Low Income Housing Tax Credits (LIHTCs) have jumped at the offer to accept free land from the city of Kissimmee and Toho Water Authority, in exchange for building up to 400 affordable rental units less than a mile from downtown's Lakeview Park. Birdsong...

  • Developer closes on mixed-income housing site at Creative Village, can start site work

    Developer closes on mixed-income housing site at Creative Village, can start site work

    An affiliate of Atlantic Housing Partners paid close to $3.74 million on Monday for 3 acres in Creative Village, and can begin site and foundation activity this week for its 256-unit mixed-income housing and commercial project.  Dubbed "Amelia Court at Creative Village," two five-story buildings...

  • Private equity investor revives dormant multifamily plan in NW Orange

    Private equity investor revives dormant multifamily plan in NW Orange

    West Palm Beach-based private equity investor Priderock Capital Partners is reviving dormant plans from 2010 to develop new Class A multifamily on Lake Betty in northwest Orange County.  Planned for 27.33 developable acres at 2695 S. Orange Blossom Trail (45.75 gross acres), the site lies between...

  • Developer applies for Mixed-Use at FL Turnpike interchange in Kissimmee

    Developer applies for Mixed-Use at FL Turnpike interchange in Kissimmee

    The heirs of the late Wendell "Jock" Spears are looking to revive a decades-old land development at Kissimmee's Osceola Parkway - Florida Turnpike interchange. Spears, who died in 2007, was the original developer of Gateway Commons, the Walmart-anchored retail center between the turnpike and the...

  • Miami-based sales guru, investor pays $50M+ for Class A apts near Darden HQ

    Miami-based sales guru, investor pays $50M+ for Class A apts near Darden HQ

    A multifamily investment affiliate of Grant Cardone, a Miami-based entrepreneurial speaker and author, paid $50.15 million this week for its first Class A property in Orlando.  Aventura-based Cardone Acquisitions bought the 240-unit Murano at Grand Lakes apartment complex, located at 9932 Grand...

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  • Homebuilder's office, construction plans take shape for Ravaudage in Winter Park

    Homebuilder's office, construction plans take shape for Ravaudage in Winter Park

    Dan Bellows' Benjamin Partners Ltd. will welcome a local homebuilder's new office building to the 73-acre Ravaudage development in Winter Park, and anticipates a vertical construction start in the coming months for new apartments, self storage, a hotel and more at the property.  Custom homebuilder ...

  • Starwood REIT takes down two more affordable apt complexes in Orange Cty

    Starwood REIT takes down two more affordable apt complexes in Orange Cty

    An affiliate of national REIT Starwood Property Trust paid another $59.1 million last week for two more affordable apartment complexes in Orange County, bringing the sum to six acquisitions since late December of LIHTC-eligible assets from a local developer. They're all part of a $600 million portfolio...

  • Starwood REIT pays $33M+ for affordable apartment complex in Avalon Park

    Starwood REIT pays $33M+ for affordable apartment complex in Avalon Park

    An affiliate of national REIT Starwood Property Trust paid more than $33.47 million last week for the Avalon Reserve Apartments in east Orlando, its fourth purchase in the past 60 days of affordable housing assets from a local seller.   Located on 21 acres in the Avalon Park community at 14451...

  • InVictus delays start to Parramore Oaks mixed-income project to reduce costs

    InVictus delays start to Parramore Oaks mixed-income project to reduce costs

    Tampa-based InVictus Development must reduce costs across the board for its "Parramore Oaks" affordable housing project in downtown Orlando, delaying its closing on public land and Phase 1 groundbreaking by an estimated five months.  InVictus emerged from a competitive bid process in early 2016...

  • Entitlements & infrastructure sought for 75 acres south of Orlando airport

    Entitlements & infrastructure sought for 75 acres south of Orlando airport

    Maitland-based developer Ralph Singleton is reviving plans for new entitlements and infrastructure on 75 acres south of Orlando International Airport, in step with Orange County's expansion of a key thoroughfare.  Located at 14700 and 14730 Boggy Creek Road, just south of the S.R. 417 interchange,...

  • Bluerock RE pays $67.5M for Four Corners area Class-A apartments

    Bluerock RE pays $67.5M for Four Corners area Class-A apartments

    New York-based Bluerock Real Estate paid $67.5 million last week to acquire the Douglas Grand at Westside, a new Class A apartment complex just a mile from one of its other properties in the Four Corners submarket. "We like Orlando a lot because of the rapid job growth and population growth," Bluerock...

  • National firm planning its fourth luxury apartment complex near Tupperware HQ

    National firm planning its fourth luxury apartment complex near Tupperware HQ

    With the opening of its third luxury apartment complex in Kissimmee just weeks away, Fore Property Company is already planning for another project in the Loop/Tupperware submarket. The California-based developer has a purchase contract on 7 acres at the intersection of Ball Park Road and Batts...

  • Camden pays $80M+ for newest apartment complex in Orlando's North Quarter

    Camden pays $80M+ for newest apartment complex in Orlando's North Quarter

    Camden Property Trust paid $80.75 million on Thursday for the newest apartment building in downtown Orlando's North Quarter neighborhood, a premium price that reflects the highest value per square foot paid for multifamily in Orlando in the last decade.  Located at 777 N. Orange Ave., the nine-story,...

  • Broker looking for development partners on Kissimmee mixed-use project

    Broker looking for development partners on Kissimmee mixed-use project

    A group of Winter Park real estate investors are looking for development partners for a 39-acre parcel next to Kissimmee's Shingle Creek Regional Park. Colony Realty Group President Tom Lightsey told GrowthSpotter he and partners received Mixed-Use PUD zoning from the city in December for Shingle...

  • Crescent & Urbanscape form new JV, seek multifamily sites in Greater Orlando

    Crescent & Urbanscape form new JV, seek multifamily sites in Greater Orlando

    Orlando-based Urbanscape Development has formed a new joint venture with Crescent Communities to co-develop multifamily and mixed-use projects across the state, with an initial focus on sites in Central Florida, the company's president told GrowthSpotter.  Urbanscape's Jon Wood has 22 years of...

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