WINTER PARK, FL – The Florida headquarters of Apartment Realty Advisors announces that it has been retained by Bumby Development Group, Inc. (“Bumby”) to handle the sale of an irreplaceable four-acre multifamily parcel located within the nationally acclaimed Baldwin Park development (photo above0 in Orlando.
Marc deBaptiste, principal, Kevin Judd, (photo below at left) senior vice president, and Dan Gasti, vice president, are representing Bumby in the disposition of the land, which is one of the most significant development opportunities in the state of Florida.
The property is located across the street from the 188-acre Lake Baldwin and adjacent to the thriving Village Center’s collection of upscale restaurants, shops and office space. The 4.04-acre site is approved for 178 units at a residential density of 44.06 units per acre and represents the last multifamily development site in Baldwin Park.
“This site represents an unprecedented opportunity to develop multifamily apartment homes in an irreplaceable, upscale, high barrier-to-entry location,” said Judd.
With approvals already in place, utilities available to the site, and primary and arterial roads in place, this site represents one of the most desirable parcels of land in the Orlando market. The site is also currently zoned for top-rated, sought after Orange County schools.
Baldwin Park, a traditional neighborhood development (TND) that rose on the site of the former Orlando Naval Training Center, will contain a total of 700,000 square feet of office space, 200,000 square feet of retail space, 2,900 townhomes, and up to 1,100 single family homes upon completion.
The mixed-use development, located only two miles from downtown Orlando, one mile from Winter Park and eight miles from Orlando International Airport, also contains 215 acres of parks, two large lakes, and numerous recreational facilities for its residents.
Recognized by Urban Land Institute as one of America’s top communities, Baldwin Park has also received Florida’s top sustainable community award and the National Audubon Society’s “Building with Trees” award.
Bumby Development Group is an affiliate of Penco, a national multi-family renovation contractor specializing in construction and project management, interior and exterior renovation, catastrophe restoration and new construction.
About Apartment Realty Advisors (ARA)
Apartment Realty Advisors (ARA) is the largest privately held, full-service investment advisory brokerage firm in the nation that focuses exclusively on the multihousing industry. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions.
ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace resulted in $7.7 billion in real estate transactions in 2007.
For detailed information on ARA’s extensive multihousing investment services, visit
http://www.arausa.com/ The company’s Florida headquarters, which is located at 777 Yamato Road, Suite 140, Boca Raton, Florida 33431, concluded sales of over $2.5 billion in 2006 and 2007. For more information, call (561) 988-8800 or visit their Web site at
http://www.arausa.com/.
ARA Contacts:
Kevin Judd, Senior Vice President
Lisa M. Rossetti
Director of Research
777 Yamato Road, Suite 140
Boca Raton, FL 33431
561.988.8800 Ext. 120
561.988.8810 FAX
lrossetti@ARAusa.comwww. ARAusa.com
PITTSBURGH, PA – The Pittsburgh office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a refinancing for the Doubletree Hotel Pittsburgh Airport in Pittsburgh Pennsylvania. (top photo)
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