The Richman Group, based in Greenwich, Conn., has picked up a 19.5 acre tract of vacant land in Orlando, FL for $5.7 million. It’s been zoned as a multifamily development site with up to 280 luxury apartments . Located at 6201 Corporate Centre Boulevard, the property is adjacent to the Orlando submarket of Lee Vista and north of the Orlando International Airport. Cushman & Wakefield represented the seller, Chicago-based Old Republic National Title Insurance Company, in the dispostion. The Richman Group is the nation’s seventh-largest owner of residential apartments in the United States.
“The site’s central location and access to numerous restaurants and the area’s premier retail center, Lee Vista Promenade, make it an attractive draw for a new multifamily development,” said Senior Director Margery Johnson. “It is an extremely well-located, high-quality site with tremendous potential.”
