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June 21, 2017

KETTLER Purchases 18 Acres from the Celebration Company Expanding Footprint to Florida

KETTLER Purchases 18 Acres from the Celebration Company Expanding Footprint to Florida

McLean, VA. June 19, 2017 – KETTLER, one of greater Washington, D.C.’s leading real estate development and property management companies,announced today it has purchased 18.44 acres of land from The Celebration Company, in Celebration, Florida, marking the first transaction in the state for the company.

“This development transaction represents a significant milestone for our company. Expanding our geographical footprint and entering the Florida market has been a strategic focus of our organization,” said Robert C. Kettler, Chairman and CEO of KETTLER. “We could not be more excited to have our first acquisition in the state be in iconic Celebration.” Celebration is a master-planned community originally developed by The Walt Disney Company; The Celebration Company is a Disney affiliate.

KETTLER, historically known for its experience in large-scale planned community and mixed used development, plans to construct a garden-style apartment community with parcels for hotel and age-restricted housing. KETTLER plans to oversee the apartment development and master plan, and is evaluating partnership options with qualified hotel and age-restricted housing developers to partner on the remaining parcels to complete the community site plan.

The residential portion of the development will include 368 apartments with an array of floorplans to appeal to a broad range of renters. KETTLER will provide an extensive amenity package consistent with their focus on best-in-class community design. The site’s location is just minutes away from the vibrant Town Center, providing residents with ample dining and entertainment options and providing easy access to many of Osceola County’s large employers such as Lockheed Martin, Tupperware Brands Corporation, Walt Disney World Resort® and five hospital centers employing nearly 10,000 people.

“The Orlando area is a stable and promising submarket where we see tremendous growth opportunities for multifamily development. We look forward to working with the Celebration community to bring this project to fruition,” added Kettler.

KETTLER has assembled a world-class team to collaborate on the development. The project’s architect is Torti Gallas and Partners, a global architectural firm with offices in Washington, D.C., Florida, California and Istanbul and Atkins North America is the development’s civil engineer.

In line with the company’s growth strategy, KETTLER continues to evaluate acquisition and development opportunities in the Orlando submarket, the Tampa/St. Petersburg area as well as South Florida to add to its multifamily portfolio.