A 90-unit apartment complex in southeast Ocala was recently sold for $7.83 million to an Orlando-area real estate investment firm, less than 10 days before a train derailed next to the community.
The Cypresside Townhouses was purchased for $7,830,000 by Florida Real Estate Endeavors 9, LLC, on July 17, according to a deed filed with the Marion County Clerk of Courts.
State corporate records show that Florida Real Estate Endeavors 9, LLC, is owned by P Squared Holdings, LLC. That company is owned by Pete Piacenti, a Central Florida entrepreneur who founded OrlandoDriveway.com and Flatrate Property Management. Cypresside Townhomes, LLC, is owned by Patricia Jean Nordelo of Ocala.
The apartment complex is located between 2201 and 2223 SE 14th Avenue in southeast Ocala. Marion County property records show that Cypresside Townhomes is comprised of 13 buildings that hold a total of 90 apartment units. Approximately 89 of those units have 2 bedrooms and 1.5 bathrooms, while one of the units has 2 bedrooms and 2.5 bathrooms.
Most of the structures at the community were either built in 1981 or 1983. Property records show that the property has incurred a handful of upgrades over the past 45 years.
The sale of another apartment complex in Ocala comes less than 12 months after at least three other similar transactions.
In April, a 268-unit luxury apartment complex near the I-75/SR 200 interchange was sold for $50.15 million.
In October 2024, a 51-unit complex in east Ocala was sold for $2.66 million.
In August 2024, an 85-unit apartment complex was sold for $11.22 million.