Asset and Investment Summary
Cortland ChampionsGate is a 355-unit multifamily development completed by Cortland in 2022. Cortland opportunistically acquired the land parcel following another developer's attempt to build townhomes on the site which was rejected by the local municipality. The 17.7-acre site is in the heart of ChampionsGate, a young, but rapidly growing submarket in Osceola County which has become a major resort and golf destination. The submarket’s growth has also been fueled, in part, by its adjacency to I-4, Orlando’s main thoroughfare, which provides residents with quick access to many of the city’s largest employers. The asset is just a 10-minute drive from the Disney theme parks and hotels as well as the new Margaritaville Resort. It also sits between three other major resorts: the Encore, the Reunion, and, just blocks away, the Omni Orlando – a Four Diamond hotel with 842 rooms and two championship golf courses.
Business Plan
Cortland's development of the asset prioritized easy pedestrian access throughout the site by adding a series of courtyards linking the buildings to the site's perimeter which includes lake access wrapped by a quarter-mile walking/jogging trail. Wetlands east and north of the site help to preserve the existing wooded feel that wraps much of the property.
Amenity Package
Rather than a centralized amenity space, the community features four separate amenity areas for a more private and secluded resident experience. The pool features alcoves and recesses to create multiple, semi-private group spaces as well as a swim-up bar.
Upscale Interior Features
Apartment homes include upscale finishes and features such as granite countertops, stainless steel appliances, faux-wood plank flooring, and valet trash service. Tech features will include Nest™ thermostats, smart locks, and property-wide managed WiFi.
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CASE STUDY DISCLAIMER:
The selected investments have been included for illustrative purposes only, and have been selected in order to provide examples of the types of investments made by Cortland implementing various Cortland investment strategies and not on any performance-based criteria. The case studies do not purport to be a complete list of all investments made by Cortland executing similar strategies, and the investment examples selected do not represent all holdings purchased, sold, or recommended by Cortland exhibiting a similar strategy, nor indicative of how the same investment would perform if purchased today or at any other time than depicted. Investments following a similar strategy executed over the same time period may have performed better and worse than the example shown. Multiple factors may influence the performance of the investment, including, without limitation, the timing of the applicable investment. The qualitative and performance results depicted in this presentation are limited to the asset shown, purchased at the time the relevant asset was acquired, and implementing the strategy at a cost basis that was indicative of costs of goods and labor at the time of the execution of the strategy, and are not intended to evidence the performance of an investment made today or at any point in the future. Past performance is not indicative of future results.
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