{"id":1004125995,"date":"2015-08-24T11:47:49","date_gmt":"2015-08-24T19:47:49","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=358859"},"modified":"2022-03-03T02:39:22","modified_gmt":"2022-03-03T10:39:22","slug":"bluerock-expands-further-in-orlando-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bluerock-expands-further-in-orlando-2\/","title":{"rendered":"Bluerock Expands Further in Orlando"},"content":{"rendered":"
\"Arium<\/a><\/p>\n

Arium Palms at World Gateway<\/p>\n<\/div>\n

Bluerock Residential Growth REIT<\/a> has recently added another Orlando property to its portfolio. The investment trust has acquired the 252-unit Arium Palms at World Gateway<\/a>, a Class A apartment community located in the Celebration submarket, just minutes from the main entrance to Disney World. The transaction worth $37 million marks BRG\u2019s fourth investment in Orlando. The company sourced the transaction off-market through its operating partner, Carroll Organization<\/a>.<\/p>\n

Built in 2007, Arium Palms features one-, two- and three-bedroom unit layouts averaging 1,074 square feet. The property also features 140 units with attached garages with direct unit access; these layouts are otherwise currently unavailable in the local market. The amenity package at the community includes controlled access gates, a resort-style pool, sand volleyball court, fully equipped fitness center, gazebo, dog park and auto detailing center, as well as business and media centers. The new ownership plans to reposition the complex by updating and activating amenities and upgrading unit interiors in order to raise rents.<\/p>\n

According to BRG, Arium Palms is projected to yield a pro forma stabilized cap rate of approximately 6.8 percent. The venture invested 95 percent of its equity requirement (approximately $13 million), with an affiliate of Carroll funding the balance for a 5 percent stake in the venture. The REIT further capitalized the property with an acquisition loan of approximately $25.3 million.<\/p>\n

Photo credit: Arium Palms at World Gateway<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Bluerock Residential Growth REIT has recently added another Orlando property to its portfolio.<\/p>\n","protected":false},"author":35,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1493],"tags":[],"class_list":["post-1004125995","post","type-post","status-publish","format-standard","hentry","category-latest","category-orlando"],"acf":[],"yoast_head":"\nBluerock Expands Further in Orlando - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bluerock-expands-further-in-orlando-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bluerock Expands Further in Orlando\" \/>\n<meta property=\"og:description\" content=\"Bluerock Residential Growth REIT has recently added another Orlando property to its portfolio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bluerock-expands-further-in-orlando-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-08-24T19:47:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-03T10:39:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/Arium-Palms-at-World-Gateway.jpg\" \/>\n<meta name=\"author\" content=\"Balazs Szekely\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bluerock-expands-further-in-orlando-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bluerock-expands-further-in-orlando-2\\\/\"},\"author\":{\"name\":\"Balazs Szekely\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/623e95293ca6c6791bedc7473f548d7f\"},\"headline\":\"Bluerock Expands Further in Orlando\",\"datePublished\":\"2015-08-24T19:47:49+00:00\",\"dateModified\":\"2022-03-03T10:39:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bluerock-expands-further-in-orlando-2\\\/\"},\"wordCount\":232,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bluerock-expands-further-in-orlando-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/08\\\/Arium-Palms-at-World-Gateway.jpg\",\"articleSection\":[\"News\",\"Orlando\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bluerock-expands-further-in-orlando-2\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bluerock-expands-further-in-orlando-2\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bluerock-expands-further-in-orlando-2\\\/\",\"name\":\"Bluerock Expands Further in Orlando - 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