Ovation Orlando

Under Development

55 W Church St · Orlando, FL · Mixed-Use · Ovation Development JV

Value

$92.0M

Basis

$68.0M

NOI

—

Occupancy

—

Debt

$41.0M

Cap rate

5.5%

Business plan

342-unit residential over 38,000 SF ground-floor retail. Construction draw #7 in review; targeting TCO Q3 next year, then lease-up and refinance.

Strategy

Ground-up mixed-use development

Hold period

3–5 yrs

Acquired

May 31, 2024

Square footage

410,000 SF

Asset manager

J. Morjain

Lender

Metropolitan Bank

Sale18/100

Refinance22/100

Blocking readiness