High-profile Orlando tourism-area properties formerly owned by Universal Studios changed hands on Oct. 19, acquired by a Boston-based real estate investment company for $68 million, according to Orange County public records.
The parcels include frontage along Universal Boulevard, near Universal’s theme park expansion territory south of the Lockheed Martin plant on Sand Lake Road. One of the parcels involved in the sale is just a short distance from the new Andretti Indoor Karting entertainment complex at 9299 Universal, and near the Orlando Eye ferris wheel.
That area has been developing rapidly since Universal began making moves to build an entirely new theme park nearby.
Georgia businessman Stan Thomas signed off on the deals as the seller, through two companies, OHL Holdings and Universal City Property Management. Deeds were recorded Friday with the county.
Thomas tried for years to develop the property in accordance with a vision worked out decades ago with Universal’s predecessor, Vivendi Universal, which sold more than 1,000 acres during financial difficulty. But Thomas’s plans stalled during the Great Recession.
Starting in 2015, Universal started reacquiring much of the land. It has already regained about 1,000 acres.
The buyer in the recent transactions is listed as CPR Money LLC, with the same address as UC Funds, a real estate financing company led by Dan Palmier. It claims to have provided over $1 billion dollars of capital solutions since 2010 and focuses on commercial real estate including multifamily, retail, office, and hotel.
Attempts to reach CPR or UC Funds were not immediately successful.
Universal is already moving ahead on plans for warehouses and offices along Sand Lake Road, and has begun grading and building construction roads on other nearby property.
The entertainment giant hasn’t confirmed many details about the expansion property it owns. It’s a few miles southeast of their current parks – Universal Studios, Islands of Adventure and Volcano Bay.
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