A Texas real estate investment trust bought a housing complex leased by Walt Disney World for $67.3 million, or $175,130 per unit — the largest apartment sale to date this year.
US LStar I LLC, an entity related to San Antonio-based USAA Real Estate Co., bought the 384-unit Patterson Court complex in the Little Lake Bryan development Oct. 29 from Alta Cast Housing LLC, an entity related to Atlanta-based developer Wood Partners, Orange County and state records showed. The apartments, built in 2008, are used to house cast members from the Disney international and college programs.
The three-bedroom apartments include amenities such as a pool with adjacent plaza, club room and fitness and business centers on 20 acres, the release and county records said.
USAA Real Estate, a subsidiary of financial services firm USAA, has $6 billion in commercial real estate assets under management and provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors.
Read more: Disney worker housing sells for $67.3M | Orlando Business Journal