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Legacy Partners Sells Florida Luxury Apartments for $129M

Legacy Partners Sells Florida Luxury Apartments for $129M

Foster City, CA-based real estate firm Legacy Partners, in partnership with Phoenix Capital Management, LLC and Silverpeak Real Estate Partners has sold the 350-unit Legacy Universal multifamily community to Beverly Hills-based OpenStreet, LLC. The Orlando, FL property traded for $129 million.

Legacy Universal features a mix of studio, one-, two- and three-bedroom residences with top-of-the-line finishes and amenities including 10’ ceilings and quartz countertops. Legacy Partners purchased the property in early 2020, broke ground in the summer of 2020, and began leasing a year later.

“With Legacy Universal, we introduced the Legacy brand into the Orlando market and set a new expectation for luxury apartments,” said the firm’s Jon Wood. “This highly amenitized community was met with huge demand from renters seeking proximity to major employers such as Universal Studios and Lockheed Martin.”

Newmark’s Scott Ramey, Patrick Dufour, Brad Downing and Paul Grant represented Legacy Partners in the transaction.

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Legacy PartnersPhoenix Capital ManagementSilverpeak Real Estate PartnersOpenStreet CapitalNewmark

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

  • ◦Sale/Acquisition
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