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PRESS


03/07/2019
 
Posted By: Sara Nicponski

WOBURN, MA, February 19, 2019 - PRM is pleased to announce the sale of Integra 360, a 360-unit Class "A" multifamily apartment community in Winter Springs, Florida for $72,250,000. Integra 360 was a ground-up development that sits on 30 acres located at 1700 Integra Land Way in Winter Springs, FL, one mile west of SR 417, The Central Florida GreeneWay.

Construction of the community began in June of 2016 and was completed in June of 2018 at a cost of approximately $52,285,000 or $145,200 per unit. Included in this development is a 11,000 square foot clubhouse which includes a best-in-class fitness center, resort style community swimming pool with outdoor kitchens, all adjacent to a 2-acre pond and walking trail.

PRM's Principal/Director Eric Wardrop commented that "Integra 360 was our fifth development in the Orlando MSA and as is well known, this market has consistently been one of country's leading regions for job and population growth over the last several years."

Mr. Wardrop went on to add "Orlando's thriving economy extends well beyond tourism and as a result of a highly skilled workforce, favorable business climate, and low cost of living, it's economy is now highly diversified with many technology, healthcare and life science companies calling it home. PRM continues to like this market considerably". The per-unit sales price of over $200,700 per unit represents one of the highest per-door transaction prices in the Winter Springs Metro.

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 7,500 residential apartment units with a combined transaction value of over $1.5 billion.

For additional information, please contact:

Sara Bartlett | Investor Relations
Panther Residential Management
sbartlett@pantherrm.com | 781-935-4500 x233