Greystar Sheds UCF Research Park Area Community

The 280-unit GrandeVille at River Place, a Class A garden-style value-add community in the UCF – Research Park Corridor was sold recently in a transaction mediated by ARA, A Newmark Company.

By Balazs Szekely, Associate Editor

2015 12 29 Greystar Sheds UCF Research Park Area CommunityGreystar recently sold its GrandeVille at River Place community in the UCF – Research Park Corridor of Orlando, in a value-add deal. ARA Newmark announced the sale—keeping financial terms of the transaction undisclosed. Los Angeles-based JRK Property Holdings purchased the asset, which marks its second acquisition in the Orlando MSA in 2015.

Constructed in 2002, the property is located on Alafaya Trail, less than two miles north of UCF and three miles north of the Central Florida Research Park. Additionally, residents have easy access to the downtown Orlando CBD, Lake Nona, Lake Mary and other major employment centers via Florida State Road 417, which is less than four miles west of the property. Amenities available on-site at the property include a newly renovated clubhouse with internet coffee lounge, a private business center, conference room and a fitness center with adjoining yoga room. The resort-style swimming pool features private cabanas, a pergola-covered sitting area, an enclosed hot tub and a new outdoor kitchen with gas grills and a wet bar. The list goes on with a tanning salon, basketball court, playground,  dog park,  jogging trail with outdoor fitness stations and a car wash area.

Executive Managing Directors Kevin Judd and Patrick Dufour, Vice Chairmen Marc deBaptiste and Dick Donnellan, and Associate Scott Ramey represented Greystar in the transaction.

Photo credit: Grandeville at River Place

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