Jay Ballard, Ken Delvillar, Michael Mulkern and Robert Given of Cushman & Wakefield’s Florida Multifamily Team represented a development partnership of Panther Residential Management, Integra Land Company and CrossHarbor Capital Partners in the disposition. Bluerock Value Exchange acquired the asset for $67 million ($223,333 per unit).
Integra Sunrise Parc Apartments opened in 2019 and comprises eight four-story residential buildings; a clubhouse; and 10 garage buildings. The property offers a mix of one-, two- and three-bedroom units with an average size of 972 square feet. The community was 83.3% leased at the time of sale.
Units at Integra Sunrise Parc Apartments feature kitchens with quartz countertops, custom cabinetry, spacious islands and stainless-steel, energy-efficient appliances; bathrooms with granite countertops, custom cabinetry and soaking tubs; and living areas with built-in desks, ceiling fans, screened balconies or patios, walk-in closets with custom shelving, full-size washers and dryers; wood-style flooring and elevated ceilings.
Community amenities include a zero-entry saltwater pool, a soft turf outdoor yoga studio, a dog park, a gated electronic entrance, a recycling center, gas grills, a bocce ball court, hammocks, a courtyard zen garden, a 24-hour CrossFit gym and fitness studio, an indoor dog spa, a gourmet coffee bar, a clubhouse, a business center, community WiFi, Luxor One package locker system, a virtual golf and multi-sport simulator and an E-lounge.
Integra Sunrise Parc Apartments is located on a ±17.7-acre site at 4701 Luminous Loop in Kissimmee. The property’s position in the Hunter’s Creek/Sunrise City submarket provides residents with excellent access to Orlando’s largest employers. With convenient access to Interstate 4, the Central Florida GreeneWay and Osceola Parkway, residents experience shortened travel times to downtown Orlando, Lake Nona Medical City, NeoCity and other major employment centers.
“Integra Sunrise Parc was thoughtfully crafted to create the highest design standards and living experience, which is unmatched in the Hunter’s Creek/Sunrise City market,” said Ballard. “This has led to exceptional lease-up activity and extremely strong on-site demographics.”
Added Delvillar, “The property has redefined the market standard while offering immediate connectivity to top employers in Orlando’s multifamily market, which continues to exhibit very strong fundamentals.”
Cushman & Wakefield’s Florida Multifamily Team is directed by Given, and includes Ballard and Delvillar in Orlando; Mulkern, Brad Capas, Nick Meoli and Mike Donaldson in West-Central Florida; and Zachary Sackley, Troy Ballard, Calum Weaver, Neal Victor, James Quinn and Perry Synanidis in South Florida. Robert Kaplan, Chris Lentz and Mark Rutherford facilitate debt, equity and structured finance for the team throughout Florida.