X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ORLANDO-Apartment Group associate Jay Ballard’s two-year monitoring of a prime 15.86-acre multifamily development site at Grande Lakes in south Orlando has paid off in a $3.3 million deal that closed in a fast five months.

As soon as the dirt came on the market, Ballard contacted a potential buyer, Marietta, GA-based Wood Partners LLC, which was already active in Atlanta apartment development projects. “They responded in record time,” Ballard says. “The transaction was complicated by the large number of parties involved.”

Cole Whitaker, senior director of the Apartment Group, represented Wood. The broker says the Georgia firm plans to develop Alta Grande, a 306-unit, class A apartment venture on the site which is on the northeast corner of John Young Parkway at Central Florida Parkway. A groundbreaking date hasn’t been announced.

In Atlanta, Wood Partners and the Novare Group have already broken ground on a 21-story apartment complex expected to open by year end 2004 in the affluent Buckhead district.

Wood and Novare are also partnering with Atlanta developers George Rohrig and Charlie and Robin Loudermilk on the planned December groundbreaking of a 27-story, retail-oriented condominium tower on the 1.8-acre site of the former Atlanta Cabana Motor Hotel in Midtown Atlanta, as GlobeSt.com previously reported.

Wood also plans a mixed-use venture on the 21-acre, former Mead plant in the Inman Park district of Atlanta. Wood has contracted to buy the site for $16.2 million, or $771,429 per acre, as GlobeSt.com previously reported.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.