Orlando

Alta Eastmar Commons, a 312-unit multifamily community is underway, the developer, Wood Partners announced recently. The $41.9 million development breaks ground in late April at 159 Dean Road, Orlando. To date, the developer has built around 3,000 units in the area since 2001 and this will be the 12th Wood Partners apartment community in Central Florida.

The second phase in Eagle Point, a luxury community planned in Groveland, FL, has started selling recently. The developer, Royal Oak Homes is a family-owned home builder, the successor of Cambridge Homes which has built more than 14,000 homes in Central Florida over the past 30 years. Founded in 2011, the Royal Oak Homes arm is now one of the most active home builders in the Orlando area, building in 17 active communities in the region.

A new, 306-unit luxury neighborhood located in Port Orange changed hands recently, CBRE Capital Markets announced.

The 212-unit Promenade Crossing garden-style apartment community changed hands recently, Waterton Associates, LLC announced. The acquisition marks the sixth addition to the Chicago-based real estate investor and operator’s Florida portfolio and it is their second property acquired this year.

A 42,277-square-foot Class A office property located at 7208 W. Sand Lake Road in Orlando was recently acquired by Cardinal Point Management, LLC, a Tampa Bay investment and property management firm. CBRE’s Ronald J. Rogg and Edward Wooten arranged the sale of the three-story building and represented the seller, a Highwoods Properties affiliate in the transaction. The acquisition price was not disclosed.

Construction is progressing on Festival, Minto Communities’ latest residential development in the Champions Gate area in Orlando. Five luxury vacation villa models are scheduled for completion in early April 2015. Founded in 1955, Minto is a Canada-based family-owned business with more than 70,000 homes built including more than 20,000 in Florida in 43 communities throughout the state.

By Balazs Szekely, Associate Editor Banyan Street Capital and Oaktree Capital Management L.P. have put CBRE Group Inc. in charge of leasing at Primera Towers I, II and IV, a three-building Class A office portfolio in Lake Mary. Located at Crescent Executive Court and Primera Boulevard, the recently renovated properties total 428,672 rentable square feet […]

Hilton Worldwide has recently announced the acquisition of two Orlando facilities, the Waldorf Astoria Orlando and Hilton Orlando Bonnet Creek. The seller was a consortium including affiliates of GEM Realty Capital, Farallon Capital Management and Blackstone. The parties signed a transaction agreement in mid-February, a week before the actual acquisition took place.

Florida Value Partners, a Florida-based single asset entity has received an $8.42 million Fannie Mae loan facility for the acquisition of The Park at Vittoria, an Orlando multifamily property previously known as Waterstone Apartments. The loan term is seven years with two years interest only, amortization based on a 30 year schedule, and 80% loan-to-value. Hunt Mortgage Group, a wholly owned subsidiary of Hunt Companies, Inc. provided the financing.