H
alstatt Real Estate Partners, a real estate private equity firm, has announced the sale of UnionWest at Creative Village, a mixed-use student housing tower in Orlando. The asset was purchased by Provident Resources Group and funded through tax-exempt and taxable bonds underwritten by BofA Securities.
The 15-story building features 644 student beds, over 100,000 square feet of academic space, and 11,000 square feet of street-level retail, along with a 600-space parking garage. Since its opening in August 2019, the tower has maintained strong occupancy levels.
"We're proud to have been part of UnionWest's development," said Bobby Sullivan, managing director at Halstatt Real Estate Partners. "This project showcases our commitment to creating innovative developments that meet student and neighborhood needs." The partnership with Development Ventures Group and Ustler Development allowed Halstatt to bring this vision to life.
The sale marks the second successful exit involving bond financing for Development Ventures Group. Thom Cunningham, CEO of the Deven Group, noted that great partnerships like those with Halstatt and Ustler are critical to their business model.
Located in Downtown Orlando's Creative Village, UnionWest is a $105 million project part of a larger $1.5 billion mixed-use redevelopment. The high-quality neighborhood features urban amenities such as restaurants, art, parks, and open spaces.
Halstatt Real Estate Partners identifies value-add real estate projects throughout Florida and the Southeast, partnering with qualified sponsors to develop strategic business plans that maximize demand-driven opportunities.
About Halstatt Real Estate Partners
Halstatt Real Estate Partners is a women-owned private equity firm that has invested over $1 billion in Southeast-based assets since 2011. The company invests in middle market commercial and residential projects, working with best-in-class local partners to maximize value.
