Verso luxury apartments near ChampionsGate sell for $85.5 million
A luxury Big House apartment community completed in 2020 in the booming ChampionsGate submarket sold for the second time in just over a year for $85.5 million, representing a 48% price increase from the previous sale. Atlanta-based ECI Group bought the 250-unit Verso Luxury Apartments on County Road 532 at Echelon Way. The purchase price breaks down to $342,000 per unit.
The project was developed by The Garrett Companies utilizing Humphreys & Partners’ trademarked Big House design. Garrett sold it in March 2021 following the initial lease-up for $57.75 million to a JV between TTI Capital and Viking Companies. That means in one year the property appreciated by $27.75 million, making it a poster child for Orlando’s red-hot multifamily housing market.