Orlando
HFF Secures $50M Refinancing for Three Central Florida Office Properties
Holliday Fenoglio Fowler, working on behalf of the borrower—a joint venture between The Praedium Group and Tower Realty Partners, Inc.—has secured $50 million in refinancing for three Central Florida office properties.
Rida Development’s $200M Transit-Oriented Project Gets Preliminary Approval
RIDA Development’s master plan for a $200 million, multi-phased mixed-use development won the approval of Orlando’s Municipal Planning Board on Tuesday, and must now go before the City Council. The ambitious project was first announced in 2011, when Mayor Buddy Dyer included RIDA’s idea in his State of Downtown speech.
Orlando Fashion Square Mall Trades for $35M; Duke Realty Closes Five Notable Leases
By Georgiana Mihaila, Associate Editor Pennsylvania Real Estate Investment Trust is pursuing its previously announced strategy of improving the quality of its portfolio by selling non-core assets. One of the first non-core assets to trade is Orlando Fashion Square Mall, recently sold in a $35 million cash transaction. “The sale of Orlando Fashion Square and […]
Wood Partners Kick-Starts 200-Unit Community in Southwest Orlando
National multifamily developer Wood Partners will soon be adding 200 units on Spring Lake, at the entrance of Doctor Phillips, one of Orlando’s most desirable residential districts. The apartment complex, dubbed The Rialto, will rise on a 5.95-acre site set at the northwest corner of Sand Lake Road and Turkey Lake Road in southwest Orlando.
Highwoods Sells Two Assets for $14.6M; Kite Realty Buys Publix-Anchored Center
Raleigh-based Highwoods Properties, Inc. has sold two non-core assets in Orlando for $14.6 million in cash. The two office properties—Metrowest Commerce Center and Cambridge in Orlando—encompass 134,000 square feet.
Loews & Universal Break Ground on 1,800-Room Cabana Bay Beach Resort
By Georgiana Mihaila, Associate Editor Loews Hotels & Resorts and joint venture partner Universal Parks & Resorts have broken ground on one of the largest hotels currently under construction in the U.S—the 1800-unit Universal’s Cabana Bay Beach Resort. The hotel will be built on a 37-acre site within Universal Orlando Resort and adjacent to Universal’s […]
Orlando University Center’s $33M Sale was 2012’s Second Largest Office Deal
Crocker Partners’ $33 million acquisition of the Orlando University Center office park in late December proved itself to be the second-largest office investment sale in Orlando for 2012. The acquired portfolio includes five suburban office buildings—totaling 386,512 square feet on 27.12 acres—at 3452, 3504 and 3505 Lake Lynda Blvd., and 11301 and 11315 Corporate Blvd., just west of the University of Central Florida in Orlando.
UCF Starts Renting Units at the $55M NorthView Student Housing Project
With opening set for Fall 2013, UCF Housing and Residence Life is now taking applications to rent units in the $55 million NorthView student housing project. Currently under development just across McCulloch Rd. from the UCF campus and Bright House Networks Stadium, the apartments are being developed by Alan Ginsburg and designed by Orlando-based Cuhaci & Peterson Architects LLC and Finfrock.
Retail Phase of 14.5-Acre Mixed-Use Development Underway, Multifamily and Office to Follow
DeBartolo Development, LLC and Forge Capital Partners, LLC have recently broken ground on The Fresh Market at Mills Park—the first phase of a 14.5-acre mixed-use development that will rise at the intersection of Mills Avenue and Virginia Drive in Orlando.
University Shoppes Demolition to Make Way for Student Housing Complex
The 25-year-old University Shoppes retail center across from University of Central Florida’s main entrance is set for demolition, as American Campus Communities will soon be replacing it with a new student housing complex.