Multi-Family Residential Developments

  • Goldelm & Michaelson pay $19.4M for apts property on Conway Road

    Goldelm & Michaelson pay $19.4M for apts property on Conway Road

    An affiliate of Colorado Springs-based Goldelm Apartments paid $19.4 million on Thursday for the 200-unit Park at Salerno apartments in East Orlando, partnering on the purchase with a long-time minority stakeholder and property manager.  Located at 2100 S. Conway Road, the 9.5-acre property features...

  • CitiTower in Downtown Orlando lines up 1st retail tenant, on pace for July opening

    CitiTower in Downtown Orlando lines up 1st retail tenant, on pace for July opening

    Buffalo, N.Y.-based The Healthy Scratch may begin its expansion via Downtown Orlando, a prospective first retail tenant in the 25-story CitiTower apartments south of Lake Eola that's on pace to open in July, the building's developer told GrowthSpotter.  Serving cold-pressed juices, smoothies, toasts,...

  • Developer pitches new retirement community next to ChampionsGate

    Developer pitches new retirement community next to ChampionsGate

    Polk County developer Jean Marsan met with Osceola County planners Wednesday morning to get feedback on his proposal for a 156.4-acre gated retirement community on Bella Citta Boulevard, next to ChampionsGate. Marsan, owner of Marsan Realty and Better Built Homes, is proposing a total of 671 residential...

  • Venterra pays $78.5M for District apts on Universal Blvd, drawn by retail value-add

    Venterra pays $78.5M for District apts on Universal Blvd, drawn by retail value-add

    Ontario-based multifamily owner/operator Venterra Realty paid $78.5 million on March 9 for the 425-unit The District apartments on Universal Boulevard, drawn to the value-add potential of vacant retail space in the growth epicenter of Orlando's tourism corridor, a lead executive with the company...

  • New York's United Group plans new apartment complex in Kissimmee

    New York's United Group plans new apartment complex in Kissimmee

    New York-based developer United Group is seeking site plan approval from the City of Kissimmee for a 108-unit apartment complex on John Young Parkway, about two blocks north of W. Vine Street. The Hamilton at Lakeside would be built on roughly 6 acres, accessing John Young Parkway via Bermuda Lakes...

  • Lennar files preliminary plan for more than 800 homes at ChampionsGate

    Lennar files preliminary plan for more than 800 homes at ChampionsGate

    Lennar representatives will meet with Oscoela County planners Wednesday to begin discussions for the next phase in ChampionsGate comprising approximately 821 new homes and condos. The Four Corners community is approved for more than 3,000 homes. The homebuilder has filed conceptual plans for a...

  • Downtown Winter Garden building nears construction, leasing agent sought

    Downtown Winter Garden building nears construction, leasing agent sought

    Winter Garden’s first downtown apartments in years are close to a construction start, and the developers are looking for restaurant, office, and retail tenants for the 8,600 square feet of commercial space planned for the ground level of a three-story mixed-use building. “We will hire a leasing...

  • Local contractor preps site for first multifamily development, seeks lender

    Local contractor preps site for first multifamily development, seeks lender

    A local general contractor may be seeking a construction lender in the coming months to get behind his first personal investment in commercial development, a 27-unit multifamily project in Southeast Orlando.  Located at 6847 Hoffner Ave., the 1.5 acres across two parcels lie just west of an intersection...

  • New developer buys land slated for Winter Springs apts, groundbreaking in April

    New developer buys land slated for Winter Springs apts, groundbreaking in April

    Atlanta-based Catalyst Development Partners paid $5 million on March 1 for a 16.5-acre parcel in Winter Springs slated for a 279-unit apartment project. The apartments were to be built by Pollack Shores Real Estate Group, which guided the project through the city’s entitlement process last year....

  • Hanover Company plans 394 apts for 3rd piece of Grenada land in Dr. Phillips

    Hanover Company plans 394 apts for 3rd piece of Grenada land in Dr. Phillips

    Houston-based multifamily developer The Hanover Company is preparing to re-enter the Orlando market after more than 20 years, as the third buyer under contract for land along Turkey Lake Road that's considered one of the last large housing infill opportunities in Dr. Phillips. Based southwest of...

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  • California CRE investors pay $15.5M for affordable apts complex near Orlando

    California CRE investors pay $15.5M for affordable apts complex near Orlando

    Rivergate Companies, a South Florida real estate firm, turned a $6 million profit on its recent sale of an Orlando-area apartment complex, and the company is looking for more investments in Central Florida. An affiliate LLC of the company sold Beacon Hill Apartments for $15.5 million on Feb. 28,...

  • Aventura developer plans mixed-use for 18 acres by SunRail, CRE leasing agent sought

    Aventura developer plans mixed-use for 18 acres by SunRail, CRE leasing agent sought

    An affiliate of Aventura-based Master Real Estate filed plans this week for a mixed-use development on 18 acres within walking distance of the Sand Lake Road SunRail station, and will seek a commercial leasing agent and lender in the coming months, a partner with the group told GrowthSpotter.  ...

  • DeBartolo Development to build new apartments in Reunion Resort

    DeBartolo Development to build new apartments in Reunion Resort

    Reunion Resort master developer Encore Capital Management is teaming up with a familiar partner to develop a new luxury apartment complex just off the S.R. 429 interchange. DeBartolo Development President and COO Edward Kobel told GrowthSpotter the Tampa-based company hopes to break ground in a...

  • InVictus Development's Parramore project back on track for state funding

    InVictus Development's Parramore project back on track for state funding

    The Florida Housing Finance Corp. (FHFC) board unanimously rejected a legal challenge on Wednesday that was stalling several affordable housing developments in Florida's most populous counties, including the planned redevelopment of 6.34 acres in Downtown Orlando known as "Parramore Oaks."  Tampa-based...

  • ContraVest buys land on Universal Blvd for second-phase apartments

    ContraVest buys land on Universal Blvd for second-phase apartments

    Altamonte Springs-based ContraVest paid just over $7.07 million on Tuesday for the site of its second phase of apartments on Universal Boulevard, with an expectation to break ground by April, a lead executive with the company told GrowthSpotter.  The developer, builder and manager of market rate...

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  • Tavistock eyes Q2 start on building with micro-apts near Lake Nona Town Center

    Tavistock eyes Q2 start on building with micro-apts near Lake Nona Town Center

    Tavistock Development Company is updating plans for an 11-story mixed use building in Lake Nona that will feature its first offering of urban micro-apartments, increasing the unit count with a potential groundbreaking by the second quarter.  First reported here in early October, the project is...

  • South Florida investors pay $20M for Kissimmee apartment complex

    South Florida investors pay $20M for Kissimmee apartment complex

    Miami flower importer Herbert Jordan is part of an investment group that paid $20 million on Jan. 24 for a 208-unit apartment complex just north of the Kissimmee Gateway Airport. The Park at Sorrento complex, built in 1972, features a mix of garden-style and townhouse apartments on 15.6 acres....

  • State funding for Parramore redevelopment project could be tied up by legal challenges

    State funding for Parramore redevelopment project could be tied up by legal challenges

    A Winter Park developer specializing in affordable housing has a week to decide whether to continue a legal challenge that has delayed the funding award for Orlando's Parramore Oaks redevelopment project. The Orlando City Council in December unanimously approved the development plan submitted by...

  • Lake Nona-area apartment complex goes for $56M

    Lake Nona-area apartment complex goes for $56M

    A New York real estate acquisition and management firm paid $56 million for an apartment complex near Lake Nona that was completed earlier this year. Sentinel Real Estate Corp. bought Nona Park Village at 9100 Dowden Road from Epoch Residential, a Winter Park developer and manager of apartment...

  • Bridge Multifamily pays $49.5M for apartments in MetroWest

    Bridge Multifamily pays $49.5M for apartments in MetroWest

    Affiliates of Salt Lake City-based Bridge Investment Group paid $49.5 million on Tuesday for the 456-unit Indigo West apartments in MetroWest, and could invest up to $200 million in Central Florida acquisitions this year, a lead executive with the company told GrowthSpotter.  Located at 6101 Raleigh...

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  • St. Cloud Council to consider annexation for new senior apartments

    St. Cloud Council to consider annexation for new senior apartments

    The St. Cloud City Council is scheduled to vote Thursday on a voluntary annexation request from the developer of a new 36-unit apartment complex for seniors.  The project won unanimous support from the city's Planning Commission in December. Owner/developer Jose Quezada is seeking high-density...

  • City to approve Tavistock for purchase & development of Poitras land near OIA

    City to approve Tavistock for purchase & development of Poitras land near OIA

    Orlando's City Council is expected to approve this Wednesday land purchase, development and management agreements with Tavistock Development Company for more than 1,800 acres south of Orlando International Airport.  **Update** City Council approved the GOAA land sale on Wednesday, pending agreement...

  • New luxury apartments planned on site of former abandoned E192 hotel school

    New luxury apartments planned on site of former abandoned E192 hotel school

    The former site of one of Osceola County's most blighted, abandoned buildings could soon be home to a new luxury apartment complex. Harris Civil Engineers has filed a preliminary site plan for a 420-unit apartment complex at the FL Turnpike - E192 interchange on behalf of the owner, an affiliate...

  • Investors pay $4.6M for 42 units near Orlando's Fort Gatlin Recreation Complex

    Investors pay $4.6M for 42 units near Orlando's Fort Gatlin Recreation Complex

    A group of private investors paid $4.625 million in late December for a 42-unit multifamily property in Southeast Orlando, and are seeking more workforce housing acquisitions locally, a managing member told GrowthSpotter.  Located in the 3100 block of S. Bumby Avenue next to the Fort Gatlin Recreation...

  • Atlanta developer plans new apartments near UCF, seeks construction lender

    Atlanta developer plans new apartments near UCF, seeks construction lender

    Atlanta-based Catalyst Development Partners has 11.46 acres under contract near UCF with newly-filed plans for multifamily, and will begin seeking a construction loan this week for the $42 million project, a partner with the company told GrowthSpotter.  Located northeast of the intersection of...

  • Nashville-based MF investor pays $16.2M for Orlando apts

    Nashville-based MF investor pays $16.2M for Orlando apts

    An affiliate of Nashville-based Covenant Capital Group paid more than $16.25 million on Wednesday for the 258-unit Holley Garden Apartments south of Downtown Orlando, it's fourth local asset.  Located at 3435 S. Orange Ave., the 9.62-acre property features 10 two-story apartment buildings with...

  • Brooklyn-based apts investor pays $14.1M to enter Orlando market

    Brooklyn-based apts investor pays $14.1M to enter Orlando market

    A Brooklyn-based multifamily investment group paid $14.1 million last week to enter the Orlando market, buying 184 apartments across two neighboring properties southeast of Baldwin Park. Located at 1001 Shoreview Dr., the 160-unit Palms at Shoreview apartments were acquired, along with the neighboring...

  • 3rd-gen local CRE investor spends $1.5M on two Downtown Orlando sites

    3rd-gen local CRE investor spends $1.5M on two Downtown Orlando sites

    A third-generation investor in local real estate spent more than $1.5 million last week on two value-add commercial properties in Downtown Orlando. Brad Cowherd, principal of Florida Oranges Land Company and owner/operator of Infusion Tea on College Park's Edgewater Drive, has continued on the...

  • Park Square Homes locks down land for pair of Sawgrass Plantation communities

    Park Square Homes locks down land for pair of Sawgrass Plantation communities

    Park Square Homes will break ground in early January on a pair of residential projects in south Orange County's Sawgrass Plantation. The fast-growing homebuilder paid $5.9 million for the last two undeveloped parcels in the master-planned community. The builder closed earlier this week on a 54-acre...

  • Longtime Colliers broker closes $18.2M apartment sale before retiring

    Longtime Colliers broker closes $18.2M apartment sale before retiring

    After three years of "slowly unwinding my practice" John Stone can now concentrate full time on his golf swing. Stone, principal and managing director of multifamily investment sales for Colliers International Tampa Bay, closed the final transaction of his 40-year career earlier this month with...

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  • NJ investment group buys 2nd Orlando apartment complex for $52M

    NJ investment group buys 2nd Orlando apartment complex for $52M

    New Jersey-based Raia Properties Corporation expanded its Orlando-area portfolio on Monday, paying $52 million for the EOS Apartments near UCF. The Class A midrise complex was built in 2015 by the seller, Atlanta-based Catalyst Development Partners. It sits on 12.75 acres just northwest of the...

  • Atlanta non-profit buys Waterview Apartments on Lake Tyler for $22.7M

    Atlanta non-profit buys Waterview Apartments on Lake Tyler for $22.7M

    A non-profit focused on affordable housing for low- to moderate-income families has paid $22.7 million for the 360-unit Waterview Apartments three miles east of the Mall at Millenia, turning a $1.435 million profit for the seller who held it for 14 months.  Located at 4937 Waterway Court near the...

  • Entitlements conversion from hotels to apartments sought for Palm Parkway land

    Entitlements conversion from hotels to apartments sought for Palm Parkway land

    A Canada-based owner of 11 acres in the tourism corridor wants to expand the conversion options within his land's zoning, offering the flexibility to turn roughly a third of his hotel room entitlements into up to 400 multifamily units.  Located at 8175 Palm Parkway, the 11.13-acre undeveloped property...

  • Alliance Residential & Carlyle Group JV buys apartments site at Ravaudage

    Alliance Residential & Carlyle Group JV buys apartments site at Ravaudage

    Multifamily developer Alliance Residential Company has partnered with a real estate fund of The Carlyle Group on the purchase of 2.3 acres at the 73-acre Ravaudage property in Winter Park, with plans to break ground Jan. 9 on a seven-story, 268-unit apartment building. Land buyer affiliate CRP/AR...

  • Bellavista planning new vacation townhouse resort in Kissimmee

    Bellavista planning new vacation townhouse resort in Kissimmee

    Bellavista Building Group is planning a 50-unit vacation home townhouse resort in Kissimmee at 333 S. Poinciana Blvd. Bellavista President Aldo Martin told GrowthSpotter he partnered with Alamo Homes Group and RBZ International Corp. to form ARB Land Development LLC, which closed on the 9-acre...

  • Ormond Beach buyer pays $8.5M for 191 Orlando apts, eager to spend more

    Ormond Beach buyer pays $8.5M for 191 Orlando apts, eager to spend more

    Ormond Beach-based Lohman Apartments paid $8.525 million on Dec. 5 for the 191-unit Willow Bend Apartments in Northwest Orlando, its second local acquisition in the past five months, and is "sitting on a lot of cash that's ready to move" into new assets in the coming year, a principal with the...

  • Nashville investor pays $49M for newly-built apts in Altamonte Springs

    Nashville investor pays $49M for newly-built apts in Altamonte Springs

    Nicol Investment Co., an active investor in large, mixed-use developments around the country, paid $49.1 million last week for the newly-built Crescent Gateway apartment community in Altamonte Springs. Rebranded as Nine 12 Gateway, the 249-unit complex at Inspiration Avenue and Gateway Drive was...

  • InVictus has contracts for city's Parramore 6 acres, readies LIHTC application

    InVictus has contracts for city's Parramore 6 acres, readies LIHTC application

    Tampa-based InVictus Development, which earned Orlando's approval earlier this year for its "Parramore Oaks" redevelopment plan in downtown, has purchase agreements ready for the city's 6.34 acres, and will seek a construction loan of nearly $14 million in the coming semester, the company's president...

  • Tennessee-based developer buys industrial land near Winter Park for Class A apts

    Tennessee-based developer buys industrial land near Winter Park for Class A apts

    Tennessee-based multifamily developer and builder TDK Construction Company paid $5.64 million on Tuesday to enter the Florida market, buying nearly 17 acres in northeast Orange County with entitlements for a 332-unit Class A apartment complex.  The company is now sourcing a construction loan for...

  • Crescent preps construction start after buying Lucerne site in Downtown Orlando

    Crescent preps construction start after buying Lucerne site in Downtown Orlando

    Crescent Communities will break ground this month with Brasfield & Gorrie on a two-year construction timeline for its Crescent Lucerne mixed-use project in south Downtown Orlando, and is actively seeking more sites after selling two local apartment assets within the past year, a lead executive...

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  • Newly-formed Robbins Electra buys Lake Ellenor-area apts for $26.2M

    Newly-formed Robbins Electra buys Lake Ellenor-area apts for $26.2M

    Tampa-based multifamily owner-operator Robbins Electra paid $26.2 million on Wednesday for the 296-unit Landmark at Lake Ellenor apartments, it's eighth asset in the Greater Orlando market, and will invest another $2.2 million in renovations, the company's CEO told GrowthSpotter.  Located at 2100...

  • BREL Capital starts on Mall at Millenia-area apartments, preps Maitland site

    BREL Capital starts on Mall at Millenia-area apartments, preps Maitland site

    Fort Lauderdale-based multifamily developer BREL Capital has begun site work on a 403-unit second phase of its Millenia 700 apartments southeast of the Mall at Millenia, one of three new developments in Florida it's planning with general contractor Wieland.  A site plan was initially approved in...

  • NY-based multifamily investor pays $28.6M for value-add apts in Winter Park

    NY-based multifamily investor pays $28.6M for value-add apts in Winter Park

    Affiliates of New York-based White Eagle Property Group paid $28.65 million on Wednesday for the 252-unit Cranes Landing Apartments in Winter Park, and will invest another $1 million in renovation work, the company's CEO told GrowthSpotter.  Located at 3440 N. Goldenrod Road, south of the intersection...

  • Owner behind MetroWest's Veranda Park revival plans 150-unit condo conversion

    Owner behind MetroWest's Veranda Park revival plans 150-unit condo conversion

    Canadian residential developer Geosam Capital is preparing to convert its 150-unit The Residences at Veranda Park apartments in MetroWest back to their original condominium state, with sales to start in January and development plans in review for an adjacent 13.5 waterfront acres, the company's...

  • Park Square Homes pitches luxury mixed-use development behind Magic Place

    Park Square Homes pitches luxury mixed-use development behind Magic Place

    Fast-growing Park Square Homes is eyeing a prime spot in the W192 tourist corridor for a luxury mixed-use development combining residential, retail and three hotels across 168 upland acres. The Orlando-based developer is in discussions with the owner of a 247-acre tract immediately south of the...

  • Chicago developers buy site near UCF, with plans & permits for student housing

    Chicago developers buy site near UCF, with plans & permits for student housing

    Chicago-based developer Core Spaces paid $7.2 million on Wednesday for 6.97 acres south of the University of Central Florida, with permits ready to start site work this month for a 749-bed student housing development.  Located at 12401 E. Colonial Dr., the site is 2.1 miles south of the UCF campus,...

  • Nonprofit & developer seek GC for Clermont's first affordable apts in 20 yrs

    Nonprofit & developer seek GC for Clermont's first affordable apts in 20 yrs

    Local faith-based nonprofit New Beginnings is nearing the construction phase on a 96-unit affordable apartment complex in Clermont and has yet to choose a general contractor, the group's CEO told GrowthSpotter.  Planned for 9.66 acres on the east side of S. Grand Highway and south of Citrus Tower...

  • McKinley buys 23rd apartment property in Greater Orlando

    McKinley buys 23rd apartment property in Greater Orlando

    Multifamily owner-operator McKinley closed Tuesday on its 23rd property in Greater Orlando and third in Winter Park, buying the 120-unit Howell Crossing Apartments with a thorough renovation planned over the next six months.  Located at 2890 Red Lion Square on the Seminole County side of Winter...

  • Atlantic Housing Partners preps East Orange business park site for multifamily

    Atlantic Housing Partners preps East Orange business park site for multifamily

    Winter Park-based Atlantic Housing Partners is preparing 18.5 acres in east Orange County for a 238-unit apartment complex. The site just north of the East-West Expressway (S.R. 408) and east of Valencia College's east campus was previously slated for a business park. The developer and land owner...

  • South Florida developer has 'Orlando Gateway' 64 acres near OIA under contract

    South Florida developer has 'Orlando Gateway' 64 acres near OIA under contract

    Hollywood-based shopping center developer JBL Asset Management has 64 acres of the "Orlando Gateway" property north of Orlando International Airport under contract for $23 million, and plans to hire local brokers to help market for hotel and multifamily use in the coming months, the company's managing...

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  • Wisconsin developer closes on 22 acres for luxury apartments in Kissimmee

    Wisconsin developer closes on 22 acres for luxury apartments in Kissimmee

    Wisconsin-based Continental Properties paid $4.15 million last week for a 22-acre site in Kissimmee's Tapestry master-planned community. The developer broke ground Tuesday on a 288-unit luxury apartment complex called Springs at Tapestry, scheduled to open in Fall 2017. Marketing Manager Jean Jones...

  • Miami investor markets highly entitled 3.5 acres in Downtown Orlando for sale

    Miami investor markets highly entitled 3.5 acres in Downtown Orlando for sale

    One of Downtown Orlando's most prominent undeveloped land parcels is now marketed for sale after being held for nine months by a Miami-based investor, boasting rich entitlements for mixed use and the prospect of long-term growth for urban multifamily.  Located at 434 N. Orange Ave., the vacant...

  • St. Cloud OKs land sale for downtown parking garage and mixed-use tower

    St. Cloud OKs land sale for downtown parking garage and mixed-use tower

    The St. Cloud City Council voted Thursday night to sell a vacant lot near City Hall to ADMC Design, in exchange for the firm's promise to build a 10-15 story mixed-use tower with an attached parking garage.  The international construction company, founded by Albanian-born Albert Leka, has invested...

  • Toronto-based REIT buys Windermere apts for $56M as part of portfolio deal

    Toronto-based REIT buys Windermere apts for $56M as part of portfolio deal

    Toronto-based Milestone Apartments REIT paid $56 million on Nov. 22 for the 276-unit Casa Mirella apartments in Windermere, part of a six-property portfolio acquired from New Jersey-based Raia Properties Corp. first announced in late October, totaling roughly $242.2 million.  Milestone filed notice in...

  • Lakefront land in Dr. Phillips area under contract for homes, new roads planned

    Lakefront land in Dr. Phillips area under contract for homes, new roads planned

    More than 80 acres with one of the last large infill development opportunities in the Dr. Phillips housing submarket is under contract for a mix of residential, and land owners are working with Orange County on a new road network to help future residents bypass one of Orlando's busiest intersections. ...

  • St. Cloud City Council to vote on land sale for new downtown parking deck

    St. Cloud City Council to vote on land sale for new downtown parking deck

    The City of St. Cloud could be prepared to give away a vacant downtown lot to the new owner of the St. Cloud Hotel if he agrees to build a parking deck on the property. Thursday's City Council agenda includes a resolution declaring the .6-acre lot surplus and selling it to ADMC Design LLC in exchange...

  • Developers target Osceola for more affordable housing tax credit projects

    Developers target Osceola for more affordable housing tax credit projects

    Osceola County planners are reviewing a flurry of prospective affordable housing projects this month as developers rush to submit tax credit applications in time for the Florida Housing Finance Corporation's Nov. 17 deadline. Titan Land Company President Domingo Sanchez had five potential sites...

  • Bainbridge nears land purchase, site work start on Lake Nona-area apts

    Bainbridge nears land purchase, site work start on Lake Nona-area apts

    Wellington, Fla.-based The Bainbridge Companies is an estimated two weeks away from closing on 15 acres along Lake Whippoorwill, and should start site work next month for a 288-unit apartment complex near the growing Lake Nona community. Located in the northeast quadrant of Narcoossee and Tyson...

  • Nashville investor bets on Seminole County office growth, buys new Sanford apts

    Nashville investor bets on Seminole County office growth, buys new Sanford apts

    Looking to serve future suburban office development north of Orlando, Nashville-based Carter-Haston Real Estate Services recently paid $21.2 million for the newly built 138-unit Lofts at Savannah Park apartment community in Sanford. Partner Jamie Shanks told GrowthSpotter the Sanford purchase made...

  • Investor pays $1M for 11 vacation rental units behind Osceola Heritage Park

    Investor pays $1M for 11 vacation rental units behind Osceola Heritage Park

    A Virginia real estate investor has paid $1 million for an 11-unit vacation rental community that backs up to Kissimmee's Osceola Heritage Park. Located at 1888 Fortune Road, the complex consists of two three-bedroom/two-bath units and nine five-bedroom/three-bath units. Built in 2001, each rental...

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