Jones Lang LaSalle Incorporated: Orlando area luxury multi-unit community closed
ORLANDO, December 7, 2021 – JLL Capital Markets today announced the closing of the sale of Falcon Square to Independence, a 379-unit, three-story garden-style community in Winter Garden, Florida.
JLL marketed the property on behalf of the seller, Venterra Realty. Cortland acquired the asset.
Built in 2008 and comprised of 11 three-story concrete block buildings, Falcon Square features units with full-size washers and dryers, walk-in closets, breakfast bars, private screened-in balconies, high ceilings nine foot, hardwood style vinyl flooring and floor plans average 1,122 square feet. Community amenities include a resort-style swimming pool, two basketball courts, a dog park, independent garages, a resident business center, hiking and biking trails, a fitness center, a poolside grill station, a playground, a residents’ playroom and tennis courts.
Falcon Square is located in the Independence PUD in the heart of Horizon West, a 2,100-acre premier planned community, made up of five unique villages that have been carefully designed to ensure convenient access to top schools, to dynamic shopping centers and public parks for its residence. Located at 14600 Ave. of the Groves, the property offers immediate access to State Road 429, which offers superior freeway connectivity throughout the Orlando MSA.
The JLL Capital Markets sales and investment advisory team representing the seller was led by Managing Directors Jay Ballard and Ken DelVillar.
“Falcon Square has generated strong interest from institutional investors due to the location of the asset, its concrete block construction and the potential to implement a true value-added investment program, as the interiors were all original. Said Ballard. “The location of the property in the Independence PUD and the proximity to A-rated primary and secondary schools also generated a lot of interest. ”
JLL Capital Markets is a global full service provider of capital solutions for real estate investors and occupiers. The company’s in-depth knowledge of the local market and global investors provides the best solutions for clients – whether it is investment sales and advice, debt advice, equity advice or recapitalization. The company has more than 3,000 capital markets specialists around the world with offices in nearly 50 countries.
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