Phoenix Realty Group JV sells luxury garden-style apartment in Orlando for $97m
A joint venture between Phoenix Realty Group and Prospect Capital has acquired West Vue, a 442-unit, brand-new, luxury garden-style apartment community within Orlando’s sought-after and award-winning MetroWest master-planned community.
The sales price was $97.5 million, and the seller was RISE: A Real Estate Company, a multifamily real estate development, management and construction company based in Jacksonville, Fla.
“As West Vue continued along its robust lease-up trajectory, the buyer was presented with the rare opportunity to acquire a stunning asset with unique upside in one of Central Florida's top institutional and most tightly traded submarkets,” said Matt Wilcox, a managing director with Berkadia, which arranged the sale.
“Given the lack of available development sites left in MetroWest for future multifamily product, West Vue is in a prime position to benefit from years of robust renter demand ahead,” added Brett Moss, a managing director with