Taurus Investment Closes $113M Orlando Acquisition
- Jul 30, 2021
Taurus Investment Holdings has purchased two Class B communities in Orlando, Fla., for a combined $113.4 million. The properties are known as Legends at ChampionsGate and Summit at Metrowest.
According to Yardi Matrix, The Milestone Group sold both assets in separate transactions, while CIBC Bank USA provided financing for the acquisitions.
The 280-unit Summit at Metrowest sold for $59.5 million and received a $48.1 million acquisition loan. The 252-unit Legends at ChampionsGate commanded $53.9 million and received $43.3 million in funding, Yardi Matrix data shows.
Berkadia Senior Managing Director Mitch Sinberg and Associate Director Matthew Robbins secured the floating-rate, 3-year loan including interest-only payments for Legends at ChampionsGate.
Legends at ChampionsGate and Summit at Metrowest
The three-story Legends at ChampionsGate is located at 8101 Champions Circle and features a mix of one- to four-bedroom floorplans spread across 10 buildings. Common area amenities include a fitness and business center, clubhouse, tennis court, playground and swimming pool.
The 2002-built property, less than a mile northwest of Interstate 4, is close to a variety of leisure options such as the ChampionsGate Golf Club and Sports Complex, as well as the Reunion Resort Water Park.
Located at 6500 W. Metrowest Blvd., Summit at Metrowest includes 10 two-story buildings. The 1991-built property features one- to three-bedroom floorplans. Residents enjoy access to a fitness and a business center, a clubhouse, a playground, sports courts, a swimming pool and a spa.
Summit at Metrowest is roughly 8 miles from downtown Orlando and is situated within a 1,800-acre master-planned community that is home to the Metrowest Golf Club. Universal Orlando, SeaWorld and Disney World amusement parks are also close to the property.
The transactions bring Taurus Investment’s Central Florida portfolio to 1,800 units. Earlier this month, the company purchased a 136-unit community in South Mesa, Ariz., which marked the buyer’s fourth purchase in the Phoenix metro over the past year.