Highlighted in red is the 5-acre parcel on Westwood Boulevard where 4.46 acres are proposed for a Tru Hotel. Outlined in red to its west is another 5-acre parcel owned by the same BNP Paribas Bank affiliate that Skorman Development has purchased. The blue-outlined 1-acre parcel is also being bought by Skorman, and the green outlined 5 acres to the east is still marketed for sale. The large 20-acre undeveloped parcel to the west of these was sold in November 2016, and is planned for a convention hotel tower.
Highlighted in red is the 5-acre parcel on Westwood Boulevard where 4.46 acres are proposed for a Tru Hotel. Outlined in red to its west is another 5-acre parcel owned by the same BNP Paribas Bank affiliate that Skorman Development has purchased. The blue-outlined 1-acre parcel is also being bought by Skorman, and the green outlined 5 acres to the east is still marketed for sale. The large 20-acre undeveloped parcel to the west of these was sold in November 2016, and is planned for a convention hotel tower. (Orange County Property Appraiser / staff edit)

Skorman Development and Construction paid more than $6.17 million on Thursday for 11 acres on Westwood Boulevard in Orlando's tourism corridor, and then flipped 4.46 acres for $5.5 million to a Miami-based operator to develop a 259-key Tru by Hilton.

Skorman paid just over $5.5 million for 10 acres across two parcels from Orlando Westwood Loan Associates LLC, an affiliate of BNP Paribas Bank, which previously acquired the land in 2013 for $100,100 following unpaid loans by previous owner Sham Majaraj.

Advertisement

It also closed Thursday for $675,000 on an adjacent 1-acre parcel fronting Westwood Boulevard owned by Winter Park-based Magnolia Advisors, a deed yet to be recorded.

Miami developer named for Tru Hotel project on Westwood, south of OCCC

Insight on who is behind a prospective land sale and hotel plans on Westwood Boulevard, and activity for neighboring parcels.

Proposed for 6461 Westwood Blvd., south of the Orange County Convention Center's west concourse, Miami-based Epelboim Development Group and Skorman's civil engineers have been working a hotel Development Plan through Orange County's review process since mid-February.

That DP was approved on consent agenda by the Development Review Committee on July 26.

Skorman recouped nearly its entire land expense with the 4.46-acre flip to an Epelboim affiliate on Thursday, and will retain about 6.54 acres for its own future development, potentially for another hotel.

Hooman Hamzehloui, founder of Masters Realty, has represented Skorman in negotiations for the parcels.

"(Skorman's) plan is to develop that 6.54 acres, I believe they already have some hotel flags interested," he told GrowthSpotter. "We've been working on developing that site for what seems like a year and a half. The progress we've made with (decision makers) in the hotel industry has been invaluable. We've got some strong candidates now."

Developer assembles land on Westwood Blvd for Tru hotel partner & more

Insight on 11 acres under contract directly south of Orange County Convention Center, and the progress made Wednesday for one buyer's hotel plan.

Directly east of those properties is a 5-acre parcel on the hard corner of W. Entrance Drive and Westwood Boulevard, owned by Winter Park-based Avanti Properties Group. Activity on that land hasn't changed since February, and remains for sale via Hunter Hotel Advisors.

And directly west of Skorman's new property is a 20-acre site bought in late November 2016 by developer DCS Real Estate Holdings, a sale also coordinated by Masters Realty.

DCS was pursuing plans for a convention-level hotel tower with 1,000 to 1,200 keys on that site, but has put that project on hold to prioritize development of a 16-story JW Marriott in Bonnet Creek Resort.

Have a tip about Central Florida development? Contact me at bmoser@growthspotter.com, (407) 420-5685 or @bobmoser333. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

Advertisement
Advertisement
Advertisement