Whats going on in Florida! Orlando Florida syndicate buying 50%

[AJ Panjavi]

I am investing with a syndicate, they are a fund and just bought a property for 50% over the sale price in 2019.

Originally sold in 2019 for $40M, they bought it for $60M just 2 years later - NO VALUE ADD DONE.

What the heck is going on? 

Orlando sure as hell didnt have this appreciation

New cap is at 3% on this class B property.