Old Town Kissimmee Sold for $24.5 Million
Old Town, the longtime Kissimmee entertainment and shopping district known for its brick-lined streets and classic car cruises, has new ownership after a deal valued at approximately $24.5 million.
Who Bought Old Town?
Todd and Radha Rambilas, owners of R-S Equity Services, purchased the Old Town property in a transaction that closed September 16. The family describes itself as a local, Florida-based company and says the purchase is personally significant since they live and raise their families in Central Florida.
What Does the Sale Include?
The deal covers approximately 23 acres along W. Irlo Bronson Memorial Highway, encompassing most of the entertainment district’s more than 70 businesses, shops, restaurants, and attractions. Old Town has operated since December 1986 and underwent a major 2019 renovation that added its signature 86-foot Ferris wheel.
Photo: Old Town
What Happens to Old Town’s Businesses Now?
The new owners say there are no immediate changes planned for current businesses or regular events, including the weekly classic car shows that have made Old Town nationally recognized. The Rambilas family has said their focus is on improving common areas while preserving the venue’s historic, nostalgic character.
What This Means
Old Town has weathered plenty of ownership changes and slower stretches since the pandemic, so new local ownership investing in the property is a meaningful vote of confidence in the corridor. For longtime Central Florida residents, it’s a reminder of how much history is tied up in that stretch of 192 — and a sign the destination isn’t going anywhere.
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