Venterra Pays $80M for Newly-Built Clermont Rental Project

Tenants have barely moved in, and the 288-unit Lake County apartment complex has changed hands. Venterra Realty has acquired The Grove at Clermont Apartment Homes located just outside Orlando. Lake County records show Venterra Realty paid $80.4 million for the newly built units. The seller was CH Penler Clermont LLC, the builder.

Located in Clermont, the two-story multi-family community offers modern one, two, and three-bedroom garden-style residences that range from 731 to 1415 square feet in ten unique floor plans. The South Lake Trail borders the property, part of a 43-mile greenway corridor and recreational trail for walking, running and biking. Orlando Health South Lake Hospital and the National Training Grounds are major local employers.

The property provides renters with access to a resort-style pool with gas grills, a 24-hour commercial caliber fitness center, a Pet Spa, a spacious clubhouse, and a bike storage facility with direct access to the South Lake Trail system.