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ARA, A Newmark Company (ARA Newmark) announced the sale of Integra Meadows at ChampionsGate, a 304-unit, Class A multihousing property located within ChampionsGate, one of the premier golf course resort communities in the Orlando MSA. Situated less than 10 miles from Disney World, a half mile east of US Highway 27 and four miles north of I-4, this location provides residents of the property easy access to Orlando’s theme parks, as well as the downtown Orlando and Lakeland employment markets.
The ARA Newmark team of Executive Managing Director Kevin Judd, Associate Scott Ramey, Executive Managing Director Patrick Dufour and Vice Chairmen Richard Donnellan and Marc deBaptiste exclusively represented the seller, Integra Meadows, LLC (Integra), which is affiliated with Integra Land Company through its principals. A private real estate development firm headquartered in Lake Mary, FL and an existing client of ARA Newmark, Integra specializes in identifying new sites for development, as well as shaping bold and innovative designs into sound income producing projects. Since 1995, the principals at Integra have been involved in the development of more than 75 projects, consisting of approximately 20,000 units throughout the Southeastern United States.
Centennial Holding Company, LLC (Centennial), an Atlanta-based privately-held real estate investment firm that acquires, manages and sells Class A multihousing properties, purchased the property. Established in 2004, Centennial focuses on owning and managing properties in the Southeast. Integra Meadows will be its fifth property in Florida. According to Judd, “Integra Meadows is a best-in-class garden property located in the immediate path of growth in ChampionsGate, one of the most well-known and exciting resort communities in the region. The location, quality of construction and interior finish level appealed to a wide range of buyers and made this a highly pursued asset in the investment community.”
Constructed in 2008, Integra Meadows is a three-story, garden-style community with one-, two- and three-bedroom units that is located in the rapidly expanding ChampionsGate resort community in southwest Orlando. Ramey noted, “The area surrounding Integra Meadows has seen an influx of new development as national homebuilders including Lennar, Minto and Encore are all underway with major single-family developments within a few miles of the property. This new residential development, combined with the property’s proximity to Orlando’s major resorts, will make this a highly sought after area for years to come.”
In addition to the property’s proximity to Disney, SeaWorld and Universal Studios, residents can also enjoy easy access to Heart of Florida Regional Medical Center and Florida Hospital Celebration Health, which are two of the region’s largest medical facilities. The property is less than 30 minutes southwest of Downtown Orlando and 35 minutes northeast of Lakeland.
The property features a resort-style swimming pool with a hot tub, covered lanai and BBQ grills, and an expansive clubhouse with a business center, a game room, a fitness center and a tanning salon. Occupancy at the time of the sale was 95 percent.
About ARA, A Newmark Company
ARA, A Newmark Company is the largest full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA Newmark is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA Newmark’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of global resources, unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in an annual production volume of more than $12.4 billion in real estate transactions in 2014. For detailed information on ARA Newmark’s extensive multihousing investment services, visit www.aranewmark.com.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.