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ORLANDO- The Adler Real Estate Fund I, a closed-end discretionary fund, purchased its first property, the 92,000-square-foot Winter Garden Business Park, an eight-building office park in the Orlando suburb of Winter Garden. The price for the three-year-old property, an REO, was $6.2 million, including closing costs.

The original developer of the Winter Garden Business Park lost it when he was unable to pay on a construction loan, says Matthew L. Adler, chief executive officer of the Adler Fund, which is based in Miami. He declined to give the name of the lender.

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