Campton and Rossi represented the seller, Vista Premier Point Inc., an affiliate of the Vista Group of Companies based in the city of Kitchner, Ontario, Canada.
Co-founded by CEO Amin S. Visram and COO Ally Visram, Vista Group invests in real estate and specializes in property turn around, according to its website. The company paid $3.95 for the buildings in December 2013, according to Seminole County land records.
Campton and Rossi, who represented the seller when Vista bought the property, say the Canadian firm spent more than $2.6 million on renovating the two buildings. Upgrades included lobbies, restrooms, HVAC and common areas.
“What they paid for it then was a fraction of this and the buildings were in distress,” Rossi told GrowthSpotter. “They put time and effort in to make it a clean deal for us to go out and sell it, and it was positively received by the market. We had a number of groups looking at it.”
Premier Point is about a mile north of the Maitland Center office park in Orange County. Campton said the Premier Point buildings are smaller than those in the older Maitland Center, thus offering tenants offices right off the lobby with more exposure to the public.
“These buildings give a smaller tenant a better sense of place,” he said.
EDITOR’S NOTE: This story has been updated to correct the previous purchase price of the properties.