Orlando Luxury Community Sells For $74M

by multihousingnews.com posted 1month ago 6 views
Astoria at Celebration underwent a comprehensive repositioning program under the previous ownership. : CGI Strategies has sold Astoria at Celebration, a 306-unit luxury community in Celebration, Fla., to Versity Investments. The property changed hands for $74.5 million, according to public records. Thorofare Capital provided $44 million in permanent acquisition financing to facilitate the transaction. The previous owner acquired the asset in 2019 when the company secured a $47.5 million bridge loan for the extensive renovation, stabilization and rebranding of the property that had stood vacant for 40 years prior to the deal.

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