Madison Capital Group Advises Muirfield Development on $85M Multifamily Development in Orlando Submarket of Altamonte Springs
Miami, FL | September 25, 2025: Madison Capital Group, a Miami-based commercial real estate advisory and investment firm, announced today that it acted as exclusive advisor representing Muirfield Development in arranging a co-development venture to build an $85 million, 332-unit multifamily project in Altamonte Springs, Florida.
The new multifamily community will be developed on a 12.7-acre infill parcel adjacent to Altamonte Springs City Hall and across from the SunRail commuter station. Plans call for four-story buildings with surface parking, delivering 332 thoughtfully designed apartment units. After two years of entitlement and design work, the site plan has full approvals and is scheduled to break ground this fall.
Altamonte Springs is part of the greater Orlando metro, one of the nation’s most dynamic markets. Orlando ranks #1 among MSAs in population growth from 2017–2026, and #1 in job growth over the same span, according to CoStar. The development site benefits from proximity to major retail corridors, employment centers, and direct rail connectivity to downtown Orlando.
“Muirfield is committed to delivering a positive impact to the communities where we build, and Madison’s team was instrumental in structuring a venture aligned with that vision,” said Steve Colamarino, Partner with Muirfield Development. “With the City’s enduring support, we’re excited to deliver a best-in-class community in Altamonte Springs that combines superior connectivity, strong market fundamentals, and a tremendous quality of life for its future residents.”
“We’re proud to have supported Muirfield with a financial and strategic solution that brings this project to life,” said Tim Martorella, Managing Partner at Madison Capital Group. “Altamonte Springs continues to benefit from durable demographic and employment drivers, and this project is positioned to meet sustained demand for high-quality rentals in the Orlando region.”
Muirfield Development
Muirfield Development is a private real estate development firm headquartered in Palm Beach Gardens, FL. The principals behind Muirfield are forward-thinking real estate professionals pursuing unique real estate projects with opportunistic risk profiles in growth markets. On a combined basis, the team has developed and/or financed more than 7,000 apartment units with costs in excess of $3 billion. With decades of collective experience across the real estate industry, the partnership brings the requisite experience and perspective to create lasting value for the communities in which it invests.
Madison Capital Group
For over 25 years, Madison Capital Group, LLC (madison-capital.com) has been a leading Miami-based Real Estate capital advisory and investment firm. Madison’s team leverages decades of experience to advise clients throughout the entire project life cycle. Madison has advised on billions of dollars in transactions, providing services including equity and debt financing, land & investment sales, co-development ventures, and principal investments. Madison co-invests in select development, acquisition and recapitalization opportunities, aligning with our clients’ interests.
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For more information, contact:
Gene DeRose, Director, Madison Capital Group
917-602-6676
gd@madison-capital.com
