2013 has ended and realtors all over Florida, including Orlando realtors, are looking forward to a stronger market in 2014. The previous year saw some very reassuring investment purchases by major private equity firms. Apart from bringing immediate dollars to the Orlando real estate market, these sales also helped boost the confidence of investors and top Orlando realtors believe Florida can expect more investment in 2014.
Here’s a look at four of the hottest deals in the Central -Florida real estate sector that shone brighter than the others in 2013.
Hyatt Hotels Corp. shells out nearly $600 million to purchase Peabody Orlando
The biggest deal of 2013 was signed on October 1, when the Peabody Exchange LLC bought the Peabody Orlando off UST Hotel Joint Venture Ltd.’s hands for an impressive $591.7 million.
The 1,641-room sporting luxury hotel located on the International Drive changed hands and flags in 2013 from the Memphis, Tennessee owner to one of Chicago’s biggest hotel brands – the Hyatt Hotels Corp.
Peabody Orlando is especially famous for its Peabody ducks and though the ducks remain, the hotel’s name doesn’t anymore. It was renamed and is now known as the Hyatt Regency Orlando Convention Center.
DDR Corp. purchases Winter Garden Village for around $200 million
The DDR Corp has already carved a niche for itself in property acquisition and July 2013 saw the Ohio-based property investment trust shell out $196 million in favor of Phoenix’s real estate investment firm – the Cole Real Estate Investment agency.
Winter Garden Village located in Beachwood, at the Flower Groves lifestyle center is generously spread across 1.1 million square feet and this retail development, signature of West Orange County has now been put up for lease.
Downtown Orlando’s relatively new apartment complex changes hands for close to $60 million
This deal was finalized three days prior to the sale of Winter Garden Village. Mesirow Financial Holdings Inc. purchased the newly constructed SteelHouse Orlando apartment on July 16.
The Chicago-based private equity firm paid $59 million to the developer, Pollack Shores and became the owner of downtown Orlando’s new 326-unit apartment complex, which was only about 60 percent occupied at that time.
Post Properties Inc. becomes the new owner of an apartment complex near Disney World
The 300-unit apartment complex, Crosswater, at the Lakeside Village saw a shift of hands-on on May 29 and its eventual renaming to Post Lakeside. Post Properties – a real estate investment trust based in Atlanta paid $48.4 million to developers Boyd Development Corp, and Greenfield Partners LLC, based in Orlando and South Norwalk respectively.
