Venterra Realty Buys Orlando-Area Asset
The company plans to upgrade the community’s 168 units.
Venterra Realty has bought the 168-unit Cane Island Apartments in Kissimmee, Fla., from CGI Strategies.
Built in 2008, the four-story community has two- to four-bedroom floorplans ranging from 1,174 to 1,532 square feet, according to Yardi Matrix data. Units feature high-end finishes and ample closet space.
Venterra plans to upgrade the apartments, including the addition of SmartHome technology and the company’s dedicated management platform. Community amenities comprise a fitness center, pool, clubhouse, waterscape and spa, as well as 520 parking spaces.
Located at 5251 Cane Island Loop, the property is from some 4 miles southeast of Walt Disney World and 1 mile east of Old Town and Fun Spot America theme parks. A Publix supermarket is less than 2 miles northwest of the property, while Celebration’s Lakeside Park is some 4 miles southwest. Interstate 4, which offers easy access to downtown Orlando, is some 3 miles west.
The asset last traded in 2018, when the current seller acquired it for $25.8 million. Orlando’s economy is burgeoning, the area being named one of the country’s most competitive locations for businesses. There are also over 500,000 students within a 100-mile radius.