Red Apple Development buys Wellington charter school

Wellington charter school and Arnaud Sitbon

ESJ Capital Partners sold one of its charter schools in South Florida to an affiliate of Red Apple Development.

Aventura-based ESJ and its partner, Hollywood-based MG3 Developer Group, sold the Renaissance Charter School at 3200 South State Road 7 in Wellington to Red Apple at Wellington LLC for $23 million, according to a press release. ESJ and MG3 also sold the Renaissance Charter School at Goldenrod in Orlando to Red Apple for nearly $22 million.

The Wellington K-8 school spans roughly 66,000 square feet and was completed in 2014. It sits on an 8-acre property. Records show the property last sold for $2.6 million in 2012.

Red Apple Development is a Fort Lauderdale-based company that focuses on the acquisition, design and development of schools.

from The Real Deal Miami https://therealdeal.com/miami/2019/03/27/red-apple-development-buys-wellington-charter-school/
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