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KISSIMMEE, FLA. — Boca Raton, Fla.-based Southern Management and Development LP (SMD) has arranged the sale of Dorado Apartments, a 367-unit multifamily community in Kissimmee. The community, located near Orlando International Airport and Disney World at 1400 W. Donegan Ave., sold for approximately $16.8 million. A group of Florida-based investors purchased the 93 percent occupied community from Dorado Apatments JV Ltd.