Advertisement
Residential Property Developments

2 multi-family properties near Disney sell for $102.3 million

By Teresa Burney
Growthspotter
•
Chatham Square, outlined in red, was sold for $62.7 million by J.P. Morgan Investment Management, the larger of two multifamily complexes sold near Lake Bryan. Gable Commons is outlined in blue.

Chatham Square, outlined in red, was sold for $62.7 million by J.P. Morgan Investment Management, the larger of two multifamily complexes sold near Lake Bryan. Gable Commons is outlined in blue. (Orange County Property Appraiser)

Two large multi-family complexes on Little Lake Bryan near Walt Disney World Resort were sold by J.P Morgan Investment Management to affiliates of Ares Capital Corp., according to deeds dated March 24 and recorded in Orange County March 29.

Chatham Square Multi-Family LLC sold its property at 8161 Chatham Manor Blvd. for $62.7 million to Chatham Square Owner LLC, an affiliate of Ares Capital, according to Orange County sale records.

Advertisement

Chatham Square includes five buildings with 448 units set on 25.6 acres that was built in 2000, according to the Orange County Property Appraiser.

The other multi-family development, around the other side of Little Lake Bryan at 8037 Gables Commons Dr., named The Commons at Little Lake Bryan, was also sold by an affiliate of JP Morgan Investment Management at the same time, also to an Ares affiliate, for $39.3 million, according to doc stamp taxes.

Advertisement

That property has 280 units across five buildings on 19.28 acres, and was built in 1998.

A representative from Ares Capital did not return a phone call seeking comment on the purchases.

Have a tip about Central Florida development? Contact me at teresaburney4@gmail.com or 352-455-1955. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

Advertisement