The six-story Downtown property consists of five buildings andhas an eight-level, 559-space parking garage. The Florida office ofApartment Realty Advisors, based in Boca Raton, brokered thetransaction. The property has been renamed the Grande and isalready stirring buyer interest.

"Many tenants are ready to buy their units," Kimbra Hennessy,president, Bitner/Hennessy Public Relations in Orlando, tellsGlobeSt.com. "The broker activity on the property has beenincredible in Downtown Orlando's core." Bittner/Hennessy isassisting in marketing the Grande. Hennessy says the Grande is"regarded as the last possible apartment-to-condo conversionpossible" Downtown. "They anticipate a quick sellout."

"The property's Downtown location, high-end unit features andsuperior community amenities make Lincoln at Delaney Square anideal candidate for condominium conversion," says Marc deBaptiste,a principal at Apartment Realty Advisors. "New condominiumdevelopments are offering primarily two-bedroom and three-bedroomfloor plans well into the $200-per-sf-range." The broker adds thatLincoln at Delaney Square's one-bedroom units "will prove to be ahighly marketable feature."