A joint venture between affiliates of Miami-based Fifteen Group and Meritage Group LP has completed the sale of Patterson Court Apartments in Orlando for $107.75 million. The new owner was not disclosed.
Built in 2008, Patterson Court is a 384-unit multifamily property that historically has been used by Walt Disney World Resort as housing for participants in its Disney College Program. Fifteen Group and Meritage acquired the property in November 2017 with the intent of either holding it with Disney as a long-term tenant or completing a conversion to a conventional multifamily project in the event that Disney vacates.
