Two Florida Charter Schools Trade for $45M
The two properties were sold by Aventura, FL-based ESJ Capital Partners and MG3 Developer Group of Hollywood, FL. MG3 was the developer of both charter schools.
FORT LAUDERDALE, FL—Affiliates of Charter Schools USA of Fort Lauderdale has acquired charter schools in Orlando and Wellington, FL for a combined $44.99 million.
The two charter schools—Renaissance Charter School at Goldenrod in Orlando and Renaissance Charter School in Wellington in Palm Beach County—were sold to Charter School USA affiliates Red Apple at Orange-Goldenrod, LLC and Red Apple at Wellington, LLC for $21.9 million and $23 million, respectively.
The two properties were sold by Aventura, FL-based ESJ Capital Partners and MG3 Developer Group of Hollywood, FL. MG3 was the developer of both charter schools.
“The transaction was an opportunity for a seasoned operator to take ownership of two established assets and further each of the school’s contributions to their respective communities,” says Arnaud Sitbon, president & CEO of ESJ Capital Partners. “We applaud Charter Schools USA for capitalizing on this visionary approach to funding educational infrastructure, and look forward to both school’s ongoing success.”
ESJ Capital Partners currently has 25 charter and privately-owned schools within its portfolio with a value exceeding $350 million. The investment management firm boasts a diversified national portfolio of more than 4 million square feet comprised of education facilities, office, apartments and hospitality/entertainment properties.
The Renaissance Charter School at Goldenrod is located at 6112 South Goldenrod Road in Orlando. The property is a 79,600-square-foot, two-story K-8 charter school. Situated on more than 10 acres, the school offers a Personalized Learning Plan for every student, designed to provide an individualized approach to learning for more than 1,100 of its current students. A world language curriculum is also offered at the charter school with an emphasis on communication, culture and community.
Located at 3200 South State Road 7 in Wellington, Renaissance Charter School at Wellington is a K-8 charter school totaling approximately 66,000 square feet. The school also provides Personalized Learning Plans for every student and world language curriculum.