Bluerock Value Exchange Acquires Property From Panther Residential Management For $67 Million

The Integra Sunrise Parc Apartments, located at 4701 Luminous Drive, Kissimmee, FL, was sold for $67,000,000. The property features a total of 300 units, delivered in 2019, and is positioned six miles east of Disney World and 23 miles south of downtown Orlando. The community occupies eight four-story buildings and includes amenities such as a clubhouse and ten garage buildings. At the time of sale, the property was 83 percent occupied, offering one-, two-, and three-bedroom floor plans with an average size of 972 square feet.

Summary of transaction details:

• Property Type: Multifamily Community
• Transaction Amount: $67,000,000
• Address: 4701 Luminous Drive, Kissimmee, FL
• Market: Orlando
• Seller: Panther Residential Management
• Buyer: Bluerock Value Exchange
• Seller's Rep: Ken DelVillar, JLL
• Occupancy Rate at Sale: 83%
• Units: 300
• Average Unit Size: 972 square feet
• Price per Unit: $223,333

Jay Ballard, Michael Mulkern, and Robert Given from Cushman & Wakefield played key roles in representing the seller and developer, which included a partnership between Panther Residential Management, Integra Land Co., and CrossHarbor Capital Partners during the transaction.