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68 S Ivanhoe Blvd Orlando, ...

Richland Capital Acquires 1.6-Acre Orlando Property For $8M
SOLDLand

Richland Capital Acquires 1.6-Acre Orlando Property For $8M

68 S Ivanhoe Blvd Orlando, FL 32804, USA

$8,000,000

Building Size

Asset Type

Land

Closing

Aug 29, 2023

AI

An Orlando property located at 68 South Ivanhoe Boulevard has been sold for $8 million. The 1.6-acre land was purchased by Richland Capital, a Tampa-based company. The acquisition aims to address the housing demand in the trendy Ivanhoe Village neighborhood, as Richland Capital plans to develop a 14-story, 312-unit apartment tower with retail space on the site.

Summary of transation details

  • Property Type: Land
  • Transaction Amount: $8,000,000
  • Address: 68 South Ivanhoe Boulevard
  • Market: Orlando
  • Buyer: Richland Capital - Matt Bray
  • Seller: Florida League of Cities Inc
  • Brokers: Gabriel De Jesus & Lawson Dann - Foundry Commercial

Richland Capital, represented by Matt Bray, led the purchase of the Orlando property. The deal was facilitated by brokers Gabriel De Jesus and Lawson Dann of Foundry Commercial. The acquisition will contribute to the development of the Ivanhoe Village neighborhood, meeting the growing demand for housing in the area.

Players

Gabriel De Jesus

Foundry Commercial

Broker

$8M

vol

1 deal

Broker

Matt Bray

Buyer

$105.1M

vol

3 deals

Buyer

Orlando Land Market Snapshot

Boundary boundary · Land · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.98%

Cash-on-Cash

-0.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93