ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
Downtown Orlando’s most prominent retail property has sold under court order for a little more than half of what it last traded for just over a decade ago.
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Los Angeles-based RP Plaza Retail and Theatre LLC, an entity related to RPD Catalyst, sold The Plaza Retail Property — the 102,000-square-foot retail section of the Chase Plaza at 183-189 S. Orange Ave. — to RCS - Plaza Retail Condos LLC, an arm of Colorado-based Real Capital Solutions, for $10.7 million in a deal that closed Jan. 9, according to Orange County records.
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Court documents show the property was placed into receivership last year after RP Plaza Retail and Theatre was found to have defaulted on its loan. The group bought the property in 2014 for $19.8 million, according to property appraiser records.
Click here to read the full story on the Orlando Business Journal’s website.
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