Written by: Bob Moser, Contact Reporter, GrowthSpotter
Orlando’s ultimate contrarian buyer, Michael E. Wright of MMI Development saw potential during the depths of the recession in land serving as an illegal dump along Maitland Boulevard, and expressway frontage landlocked in Apopka.
Patience and foresight would lead him to buy eight parcels from 27 stakeholders over an eight-year period, with roughly 150 acres assembled between the two sites. He spent more than $7.1 million on deeds alone, and is investing millions more in public infrastructure and wetlands mitigation.
How he acquired the land, and jumped through a seemingly endless array of government hoops to rezone and entitle it, is a compelling real estate story. This is Part I of GrowthSpotter‘s two-part Anatomy of a Deal series.
Read the rest of this story at GrowthSpotter, and learn who introduced Wright to the land opportunity in Maitland, how he came to meet a now trusted government advisor, and how five wildly different parcel acquisitions were negotiated with unique sellers.