Pinnacle Academy buys campus, starts renovations

BUYER: Pinnacle Academy Inc. (principal: Kirstina Ordetx), Bradenton

SELLER: SMR Lorraine Site LLC

PROPERTY: 6201, 6215 and 6225 Lorraine Road, Bradenton

PRICE: $937,500

TITLE FIRM ON DEED: University Title Services, Lakewood Ranch

PLANS, DESCRIPTION: Pinnacle Academy purchased nearly 6 acres including its campus and property used by Lakewood Ranch Town Hall's Operations Department for $937,500.

The price equated to $156,615 per acre.

The private school for children with autism and related disabilities has been leasing the former headquarters of Schroeder-Manatee Ranch for several years. The property features an administrative building, playground and several classroom buildings connected by a walkway.

“We felt like our hands were tied in terms of [making improvements as renters],” says Pinnacle founder and Director Dr. Kirstina Ordetx. “We feel more comfortable with being able to put money into renovations and improving the property for ourselves and the community [now].”

Ordetx hopes, within the next few years, to build a larger, free-standing classroom facility on the northeast end of the property, where the maintenance facility currently is located. The new building would be used for Pinnacle's older students. Funding for the project, however, is not in place and the school may need to launch a capital campaign when it is ready to move forward with the concept.

Following the purchase, the academy is moving forward with improvements to the existing buildings, including replacing the windows, reroofing and renovating the exterior of the buildings into a Key West-style cottage look.

“The buildings are great; they just need updating,” Ordetx says.

Pinnacle Academy mortgaged the property to SunTrust Bank for two loans totaling $1.08 million.

— with reporting by Pam Eubanks, correspondent