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Second Multi-Million Dollar Commercial Closing During COVID-19 for NSD Partners
By: NSD Partners
NSD Partners Closes Sale of Millenia Hotel Land in Orlando, Fl.
The NSD Partners Team of Blake Maher and Andrew Steel worked with the Naples Hotel Group (Buyer), Jill Gull of Foundry Commercial, and a private high net worth Seller, to successfully close a 2.37 acre site of raw land in the Millenia sub-market of Orlando, FL. Naples Hotel Group, Buyer, closed on this transaction after receiving approvals from the City of Orlando for a PUD Amendment which allows for hotel use, increased height restrictions and an FAR Bonus to build a 107 room select-service hotel. The transaction went under contract well before the COVID-19 Pandemic and the NSD Partners Team was able to negotiate the final closing date to occur in-line with the contracted schedule and on the same financial terms that were originally agreed. "This transaction was nearly crippled by the COVID-19 Pandemic and the proceeding market turmoil, but we were able to keep everyone focused on closing without re-trading the Sellers terms. This was a big win for us," says Andrew Steel of NSD Partners.
Our Team has closed nearly $50 million of transactions this year and with what we currently have under contract, we expect to reach $100 million in traded asset value by the end of 2020.
The Seller retained a .76 acre site, on a corner lot, along Millenia Blvd and has the ability to build upwards of 6,500 sf of commercial space. This is one of the last remaining parcels of land along Millenia Blvd and is in high demand. The site is directly across from Costco, Hobby Lobby, Culvers and more!
-Ideal for #Office #Financial #Medical #Restaurant or #Retail uses.
Please reach out to me at Blake@nsdpartners.com or 407-928-5288.
For further information please visit http://www.nsdpartners.com.
Name of Press Contact: Blake Maher, Broker
Phone: (407) 928-5288
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