Posted By: Admin DreamingCode

Woburn, MA, October 8, 2017 - PRM is pleased to announce that construction has begun on Integra Sunrise, a new 300-unit Class "A" apartment community situated on 17 acres in Kissimmee, Florida.The community is located at 4701 Luminous Loop in Kissimmee, Florida and just several minutes from Interstate 4. The development is in proximity to all of Orlando's major tourist destinations and only 20 miles from the Orlando International Airport. Integra Sunrise is also situated within 20 miles of several of Orlando's emerging employment centers such as Lake Nona Medical City and NeoCity, one of the country's largest advanced manufacturing technology parks which began development in 2017.

The Integra Sunrise development will consist of four 4-story elevated buildings, a 10,000 SF clubhouse complete with a state of the art fitness center, business and entertainment centers, outdoor courtyard and a resort-style swimming pool complete with outdoor kitchen.

PRM is very excited about this opportunity given the strong fundaments that continue to be present within the Orlando, MSA market. Job creation in this market remains one of the strongest in the country with over 50,000 jobs added in 2016 and another 43,000 in 2017.PRM believes that the unabated tourism growth in the area and the increases in high-tech and advanced manufacturing jobs, suggests continued rental housing demand for the next 24 to 36 months.

Construction of the $47,250,000 project is anticipated to take approximately 20 months and be stabilized in the first quarter of 2020.Integra Sunrise is one of the assets within PRM's Fund IV portfolio.

About the Panther Group

Panther Residential Management is a Boston-based private equity real estate firm engaged in the acquisition, development, and management of multifamily communities throughout the Southeastern United States. PRM is a full-service firm that has acquired or developed over 6,000 residential apartment units with a combined transaction value of over $1 billion.

For additional information, please contact:

Sara Nicponski | Investor Relations
Panther Residential Management | 781-935-4500 x233