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Student Housing Developers Sell Orlando Tower
Halstatt Real Estate Partners, along with Development Ventures Group and Ustler Development (Partnership), has sold UnionWest at Creative Village, a mixed-use student housing tower in Orlando, Fla. Provident Resources Group purchased the asset, which was funded through the offering of tax-exempt and taxable bonds underwritten by BofA Securities.
The partnership built the 15-story building, which includes 644 student housing beds, more than 100,000 square feet of academic space, 11,000 square feet of street-level retail, and a 600-space parking garage. The tower opened in August 2019. The University of Central Florida and Valencia College are nearby.
The UnionWest at Creative Village sale marked the second successful exit involving bond financing for Development Ventures Group, known as the Deven Group.
Located at the corner of W. Livingston Street and N. Terry Avenue, the $105 million UnionWest is part of Creative Village, a $1.5 billion mixed-use master redevelopment project in Downtown Orlando.
- ◦Sale/Acquisition
