BTI Partners Looks To Sell 100-Acre Development Site In Orlando Area

Jul 19, 2018 No Comments by

Fort Lauderdale-based BTI Partners, a land investment and real estate development firm, obtained a $12 million loan secured by about 100 acres of land in the Orlando Metro area. Florida Community Bank was the lender.

The project is known as Posner Park, a proposed 130-acre mixed-use development located at the interchange of I-4 and US-27 in Davenport.

Last year, BTI sold 30 of the 130 acres, to Intram Investments Inc., a Florida-based real estate development and restaurant investment company. Intram plans to build approximately 200,000 square feet of retail and future prospective tenants include Marshalls, Party City, HomeGoods, Ulta and Tuesday Morning.

BTI Partners recently engaged Cushman & Wakefield to market and sell the remaining 100 acres of land.

 

“Orlando is growing at a rapid pace and as development moves to the edges of the Orlando metro area, we have been receiving a strong number of inquiries from multifamily, vacation homes, and limited-service hotel developers and operators,” said Noah Breakstone, managing partner of BTI Partners. “We decided to bring Cushman & Wakefield on board to market and identify the best potential buyers to partner with us in the build out Posner Park’s mixed-use community.”

The developed portion of Posner Park has over 600,000 square feet of retail which includes Target, Best Buy, Dick’s Sporting Goods, Ross Dress for Less, Michaels, and a state of the art Cinepolis IMAX Theater.

 

“Central Florida is one of our core geographic targets within the Southeastern US and we continue to aggressively seek new land and development opportunities in the greater Orlando market,” said Justin Onorato, Director of Acquisitions with BTI Partners. “The loan at Posner Park increases liquidity and supports our growth strategy in Central Florida.”

BTI expects the entire mixed-use project to be completed in two to three years and eventually transform the area into a new Orlando gateway. BTI acquired the mixed-use development site in 2015.

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Industry News, Land, NA, Retail
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