Last week, The Gallery at Mills Park, a luxury apartment complex near Orlando, sold for $66.5 million in the most expensive single property sale in the last year. The 310-unit complex, completed in 2014, was purchased by De Bartolo Development, and promises to draw residents with newly-built restaurants, groceries, shops and entertainment in the surrounding areas. Purchased for approximately $214,500 per unit, the property sits on 14.5 acers, and makes up a large portion of the mixed-use development in the area.
“The Gallery at Mills Park is located in Orlando’s trendy, contemporary Mills 50 District, which is quickly attracting today’s renter due to its live-work-play status,” Jubeen Vaghefi of JLL Capital, representative of the seller, said in a statement . “Additionally, the asset features the latest apartment finishes and amenities.”
Each unit includes kitchen islands, stainless steel appliances, garden tubs, walk-in closets and high ceilings. Additional options like built-in speakers, wine coolers and wood floors are available to those looking to make the most of their space. Community amenities include two pools with patio grills, fire pits and suites, an outdoor zen and yoga platform, fitness center, sports lounge, and spa.
Of course, as the property has been bought by a development company, we can’t expect that everything will remain the same. We can, however, expect it to improve. Since 2003, the company has grown exponentially with a record of successful investments resulting in $4.7 billion worth of assets.
