Radius Apartments is a 13-story, 389 unit apartment development in the north side of the central business district of Orlando, Florida. The site features a walk-score of 94, views of Lake Eola, and is near Creative Village, a $1 billion mixed-use, transit-oriented development including the new University of Central Florida medical school. Westminster Realty Partners III LP acquired a joint-venture interest in this development alongside Banner Real Estate Group, a fully integrated real estate operating company based in Northbrook, Illinois. The construction financing is being provided by PNC Bank.
About Westminster Capital
Westminster Capital manages real estate investment strategies on behalf of private wealth capital, including sponsorship of closed-end investment funds and separate account portfolios totaling $860 million of investor capital. Westminster Capital makes commercial property investments throughout the United States across Industrial/Distribution, Apartments, Medical Office and Senior Living properties offering Value-Add to Opportunistic risk-reward returns. Such work includes rebuilding income streams of existing properties, or manufacturing them through new construction. The firm employs careful investment underwriting and pursues well-funded tenants motivated by powerful, long-term secular trends in their needs for such properties. Founded in 1988, the firm is headquartered in Lake Forest, Illinois.