Wellington firm to build 288 rentals in Orlando

An affiliate of Bainbridge bought the 28-acre development site for $187,500 per acre

TRD MIAMI /
Nov.November 19, 2016 01:00 PM

An affiliate of Bainbridge Capital Partners LLC in Wellington bought 28 acres for the construction of 288 apartments in Orlando.

The Bainbridge affiliate assembled the land in the Lake Nona area of southeast Orlando, paying $5.25 million, or $187,500 per acre.

The seller was Winter Springs-based Lake Nona Holdings LLC, according to property records.

Bainbridge earlier had announced plans to build a 288-unit apartment complex called Bainbridge at Nona Place on part of the 28-acre site, pending its purchase.
The estimated cost of building the apartment  is $46.5 million. The common-area amenities will include a gazebo and boat dock, and a clubhouse spanning 85,000 square feet.
The Bainbridge affiliate that bought the land is Orlando-based CGP II Nona Place FL Owner LLC, which apparently is an arm of CNL Financial Group Inc. CNL officials declined to comment, a Bainbridge representatives were unavailable.
Bainbridge and CNL Growth Properties Inc. this year sold a 322-unit apartment complex they developed in Raleigh, North Carolina, for $60 million. [Orlando Business Journal]Mike Seemuth

Related Articles

arrow_forward_ios
AHS Residential Ernesto Lopes and AHS Residential Tamiami (Credit: AHS)

AHS Residential scores $33M construction loan for Kendall apartment complex

AHS Residential scores $33M construction loan for Kendall apartment complex
AHS Residential’s Ernesto Lopes (Credit: D Ramey Logan/Wikipedia)

AHS Residential scores $34M loan for apartment project near West Palm

AHS Residential scores $34M loan for apartment project near West Palm
The Mid in Lake Worth Beach

Affiliated Development snags $35M loan for Lake Worth apartments

Affiliated Development snags $35M loan for Lake Worth apartments
The Club at Crystal Lake, AHS Residential’s Ernesto Lopes

Deerfield Beach apartment complex sells for $30M

Deerfield Beach apartment complex sells for $30M
South Florida firm buys Sunrise apartment complex for $20.2M

South Florida firm buys Sunrise apartment complex for $20.2M

South Florida firm buys Sunrise apartment complex for $20.2M
Motivated buyer: Grant Cardone borrows $93.5M for 501-unit Sunrise rental complex

Motivated buyer: Grant Cardone borrows $93.5M for 501-unit Sunrise rental complex

Motivated buyer: Grant Cardone borrows $93.5M for 501-unit Sunrise rental complex
Opportunity Zone in Jacksonville is site of bank-financed apartment development

Opportunity Zone in Jacksonville is site of bank-financed apartment development

Opportunity Zone in Jacksonville is site of bank-financed apartment development
New apartment complex in downtown Sarasota sells for $444,444 per unit

New apartment complex in downtown Sarasota sells for $444,444 per unit

New apartment complex in downtown Sarasota sells for $444,444 per unit
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...