The note for Paramount condos downtown Orlando
was purchased by a Nordic investment fund USO Norge Paramount Note LLCÂ last summer, and Norge are now the proud owners of the 16-storyÂ Paramount at Lake Eola.
Paramount at Lake EolaÂ condos features residential units with over a dozen different floor plans, of which the majority are unsold. Significant retail space also exists and of course the new Publix is underneath. Paramount is currently leasing the unsold units via ZOM and so with the new owner,Â the future of sales remains to be seen.
According to Orlando Business Journal sources, the note sold for aroundÂ $50 million and the title change was described as a â€œfriendly foreclosure.â€Â