DEAL OF THE DAY: Sanford New-Build Rings NC Investor’s Bell
Bell Partners purchased the 209-unit Integra Village at Lake Forest community in Sanford, with plans to rebrand the property as Bell Lake Forest.
By Balazs Szekely, Associate Editor
Orlando, Fla.—Integra Village at Lake Forest, a newly constructed 209-unit Class A apartment community in Sanford, Fla., has recently traded hands in a transaction valued at $33.5 million ($160,287 per unit). Greensboro, N.C.-based Bell Partners purchased the property, with plans to rebrand it as Bell Lake Forest. The acquisition marks the fourth addition to Bell’s Orlando portfolio, which also includes Bell Timacuan, Alta Corners and Bell at Universal.
Built in 2015, the 202,018-square-foot community at 101 Integra Village Trail covers a 7.43-acre parcel located just minutes from I-4 and Hwy 417 and in walking distance to a Publix-anchored shopping center. The garden-style property comprises four three-story buildings and features a total of 13 floor plans that range in size from 716 to 1,287 square feet, offering one-, two- and three-bedroom layouts with up to two baths. Residents here have access to a range of on-site amenities including a fitness center, business center, clubhouse, saltwater pool and a dog park. Individual units are equipped with washers, dryers and microwave ovens.
Executive Director Jay Ballard and Senior Director Ken Delvillar of Cushman & Wakefield represented the seller, Panther Sanford/Villages LLC in the transaction. The same team assisted Panther earlier in 2014, in the disposition of Orlando’s Venue Apartments and Lakeland’s Victoria Manor Apartments.
Photo credit: Cushman & Wakefield