OpenStreet Capital Pays $129M for Class AAA Multifam near Universal in Orlando
San Francisco, CA-based Legacy Partners and partners Phoenix Capital Management, LLC, and Silverpeak Real Estate Partners have completed the $129-million sale of Legacy Universal, 350-unit Class AAA apartment in Orlando, FL.
Scott Ramey, Patrick Dufour, Brad Downing and Paul Grant of Newmark represented the seller in the transaction. Beverly Hills, CA-based OpenStreet Capital, LLC, acquired the 96% leased asset.
Legacy Partners acquired the 11.4-acre site in February 2020 from Republic Properties, Inc., broke ground in summer 2020 and began leasing in summer 2021.
Legacy Universal is located southwest of Universal Boulevard and Carrier Drive at 7488 Universal Boulevard, in the heart of the I-Drive tourist corridor. It is positioned near Universal Orlando Resorts and walkable to Lockheed Martin’s south Orlando campus.
The property’s studio, one-, two- and three-bedroom residences feature 10-foot ceilings in all units, Smart Home Technology Package with Latch keyless entry, Honeywell smart thermostats, quartz countertops and a stainless-steel appliance suite.
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