ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
A Winter Park-based luxury apartment developer has snapped up land in Orlando’s tourist corridor.
A firm related to PAC Land Development Corp. on Dec. 31 paid $3.3 million for 4.5 acres along International Drive, according to an Orange County deed made public on Jan. 6.
This likely sets the stage for more apartment construction in Orlando’s tourist corridor, as PAC is an active multifamily developer responsible for 8,000 units in Florida since 1985.
The seller was a firm related to New York-based real estate investor Angelo, Gordon & Co LP. The company owns property around Orlando, and in the past year it sold holdings to Orlando-based Parkway Property Investments LLC and Orlando-based Park Square Enterprises LLC. Angelo Gordon declined to comment.
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