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ORLANDO-SunVest BC Development LLC, a condo converter and subsidiary of Hallandale-based SunVest Communities USA LLC, has purchased the Briar Creek Apartments from ECD-Briar Creek LP for $33 million. The price for the 386-unit community at 5575 Rose Briar Way in southeast Orlando equals $85,492 per unit.

The buyer plans to convert the property to condos with starting prices in the low $100,000s. The property will also be renamed Regency Gardens, according to Coldwell Banker the Condo Store which is handling on-site sales and marketing for the project. Wachovia funded the acquisition.

SunVest Communities USA LLC, founded in 1978, has sold 20,000 condo units in 100 developments, racking up a total $2 billion in sales over the past 28 years, according to the company's website. The company's developments are in Florida, Las Vegas, Arizona, Colorado and Texas.