The Praedium Group, has purchased an Orlando area apartment complex for $60.4 million. Located in Southwest Orlando at 6801 Integra Cove Blvd., the 338 unit community, Integra Cove, is located near tourist attractions such as Sea World, Walt Disney World and Universal Studios. The property’s features include a salt-water pool, grilling stations, and a 24-hour fitness studio. Built in 2015, the asset was a joint venture between Boston-based Panther Properties Investment and Lake Mary, FL.-based Integra Land Co. According to AxioMetrics, Orlando has averaged over 5% annual rent growth in the past five years and is one of the top apartment rental markets in the country.
“We feel confident in this market’s continued growth as evidenced by the city’s significant investment in transit infrastructure,” said Lindsay Schuckman, Associate of The Praedium Group.
