Cushman & Wakefield Negotiates $67M Sale of New Multifamily Community in Central Florida
KISSIMMEE, FLA. — Cushman & Wakefield has negotiated the $67 million sale of Integra Sunrise Parc Apartments, a 300-unit multifamily community in Kissimmee. The property was delivered in 2019 and is situated at 4701 Luminous Drive, six miles east of Disney World and 23 miles south of downtown Orlando. The property comprises eight four-story buildings, a clubhouse and 10 garage buildings. The community, which was 83 percent occupied at the time of sale, offers one-, two- and three-bedroom floor plans averaging 972 square feet. Communal amenities include a zero-entry saltwater pool, outdoor yoga studio, dog park, grilling area, bocce ball court, hammocks, courtyard, Zen garden, 24-hour CrossFit gym, fitness studio, dog spa, coffee bar, business center, package receiving services, and a virtual golf and multi-sport simulator. Jay Ballard, Ken Delvillar, Michael Mulkern and Robert Given of Cushman & Wakefield represented the seller and developer, a partnership between Panther Residential Management, Integra Land Co. and CrossHarbor Capital Partners, in the transaction. Bluerock Value Exchange acquired the asset for $223,333 per unit.