New Class A Multifamily Property in Orlando in Development
November 20, 2014
The Kislak Organization, Courtelis Company and HMG/Courtland Properties are partnering on a new multifamily project. The three successful and long-established Florida companies are strategically aligned and are consolidating their expertise and resources in the development, construction and management of a class A rental community in Orlando.
The 240-unit project will be built on a 9.53-acre site in metro Orlando. It is designed as a best-in-class garden-style apartment community and includes three four-story buildings with one-, two- and three- bedroom floor plans and luxury amenities. Its central location at the southeast corner of John Young Parkway and Taft-Vineland Road is near multiple regional road networks and provides easy access to Darden Corporate Headquarters and its 5,800 employees; South Park Center, a 2.9 million-square-foot office park with 6,000 employees; the World Design Center, a 206-acre project with 4.5 million square feet entitled for office and industrial use; SeaWorld with 7,000 employees; the Orange County Convention Center, the second-largest in the United States; and many other large employment, shopping and entertainment centers.
Principals leading the project are Thomas Bartelmo, president and CEO, for Kislak; Elias Vassilaros, president, development and asset management services, for Courtelis; and Maurice Wiener, chairman of the board of directors, president and CEO of HMG/Courtland Properties.
The joint venture project is expected to break ground in the first quarter of 2015, with delivery projected for the first quarter of 2016.
About The Kislak Organization
Established in 1906, the privately held Kislak Organization is based in Miami, Florida. Its primary lines of business are multifamily property ownership and management, and multifamily and commercial real estate brokerage in the Northeast. The organization invests and operates nationwide on behalf of the Kislak family and its partners.
About Courtelis Company
Courtelis Company was founded in 1963 and is headquartered in Miami, Florida. It offers full service real estate development and asset management services, including site selection, master planning, commercial and residential development, leasing, property management, construction and disposition. The company is involved in projects throughout Florida.
About HMG/Courtland Properties, Inc.
Founded in 1971, HMG/Courtland Properties, Inc., is based in Miami, Florida. The company, along with its subsidiaries, has owned and developed a variety of commercial real estate properties, including hotels, recreational clubs, retail stores and yacht slips.