Orlando, Fla. – June 27, 2022 – Greenspoon Marder successfully represented Elevation Development (“Elevation”) in a multi-million dollar land deal to purchase 32 acres in Mount Dora. Elevation plans to construct the city’s first build-to-rent townhome community and has already procured a loan for $46 million to move forward with the project. The 266-unit townhome community is set to break ground in the fourth quarter of 2022. Greenspoon Marder partner Michael Candiotti served as buyer’s counsel for the deal.
“Orlando has seen immense growth over the last several years due to the migration of individuals coming from states outside of Florida and job growth. Lake County specifically has attracted a number of homebuilders as a prime location due to its proximity to Orlando,” said Mr. Candiotti. “Just one mile from Wekiva Parkway, the townhome community’s location will be convenient for those commuting to Downtown Orlando and other parts of the city. I am thrilled to have assisted Elevation in this multi-million dollar deal and look forward to seeing the finished project,” he added.