Venterra Realty Acquires The Grove At Clermont Apartments For $80.4M

The Grove at Clermont apartments, located at 16551 Lake Trail Drive in Clermont, has been sold for $80.4 million. The multifamily property consists of 288 units, with an average price per unit of $279,167. The sale took place on October 6, 2023.

Summary of transaction details:

• Property Type: Multifamily
• Sale Price: $80,400,000
• Units: 288
• Price Per Unit: $279,167

Venterra Realty, represented by John Foresi, acquired The Grove at Clermont from Penler. Newmark brokers Scott Ramey, Brad Downing, and Paul Grant facilitated the transaction.

The acquisition of The Grove at Clermont aligns with Venterra Realty's growth strategy, as it expands its presence in the rapidly growing area of Clermont, which is just 30 minutes away from Orlando. The property offers strategic value in a sought-after location, appealing to Venterra Realty as it strengthens its foothold in the market.