Sovereign Properties has plans to develop a 326-unit Dolce Living Royal Palm multi-housing property located in Kissimmee, Fla., a submarket near Orlando.
It received $59 million in bridge financing.
Once fully completed in May 2021, the apartments will consist of one-, two- and three-bedroom units averaging 956 square feet. The apartments will feature best-in-class amenities, including a swimming pool, media center, movie theater, billiards and game room, and golf simulator.
Located at 3250 Orleans Ave., the property is proximate to notable nearby destinations and is a five-minute drive to Walt Disney World, 20 minutes from Orlando International Airport and just 30 minutes from Downtown Orlando. Additionally, the project is located in the best in-fill location in the Orlando-area submarket, being walkable to various shopping and mass transit options that allow connectivity across the region.
“There was considerable competition to finance this best in cl
