Chinese investors buy lakefront motel near Disney

The Orlando Sentinel reported that Chinese buyers paid $1.75 million for a lakefront motel in the Orlando area. Magic Key Investment LLC bought the 47-room Key Motel in Kissimmee, built in 1981 on a 2.66-acre tract along Lake Cecile, together with a 2,500-square-foot lakefront house.

Real estate broker Esperanza Wyman, who represented the seller, said the buyers are Chinese investors who were making their first investment in Florida, drawn by the lakefront location of the Key Motel and its proximity to Walt Disney World.  [Orlando Sentinel] — Mike Seemuth