Passco Cos. Acquires Newly Built Apartment Community in Orlando for $53.5M

ORLANDO, FLA. — Passco Cos. LLC has purchased The Ivy, a 248-unit, Class A apartment community within the Florida Hospital Health Village in Orlando, for $53.5 million. The newly built property is located at 2650 Dade Ave. within walking distance of a SunRail station. Constructed in 2015 by Atlanta-based Wood Partners, The Ivy features multi-level pool decks with a resort-style swimming pool, fitness center and a yoga studio. Passco has retained Wood Partners to manage the property. Shelton Granade of CBRE represented Passco and the undisclosed seller in the transaction. Chris Black of KeyBank Real Estate Capital arranged a Fannie Mae loan to finance the acquisition.