In October 2004, Arcapita formed a joint venture with Bainbridge Communities Management (Bainbridge) to undertake a condominium conversion and townhouse development project in Orlando, Florida. Based in Florida, Bainbridge is a fully integrated real estate company engaged in the development, construction, management, acquisition and disposition of commercial and residential real estate, and has extensive experience in the Florida residential market. First Bainbridge purchased two apartment communities, totaling 911 units, in Orlando, Florida for the purpose of conversion into condominiums and consequent sale; all of the condominium units have been sold to date. In addition, the joint venture purchased a 48-acre parcel of land in Orlando, Florida, in order to develop and sell 243 townhouses.

Investment Type

Real Estate


United States

Exit Date