Universal Orlando purchases new property for park projects

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ORLANDO, Fla. (AP) - Universal Orlando has purchased another 101 acres (40 hectares) for its new theme-park projects in Orlando, adding to the 475 it has already assembled.

The Orlando Sentinel reports Universal closed on the purchase for $27.5 million in October.

The land is adjacent to the $130 million purchase Universal made in December 2015.

The latest acquisition gives Universal more than 570 acres (230 hectares) to work with for future expansion, which is multiple times larger than the property it currently owns and operates as Universal Orlando Resort. That is home to Universal Studios, Islands of Adventure, and Volcano Bay as well as CityWalk and several hotels.

Universal has built out its existing developments almost completely, after tearing down the former Wet n' Wild water park and planning two large hotels there.

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Information from: Orlando Sentinel, http://www.orlandosentinel.com/

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