Updated Aug 17, 2026
Michael Rem Of JBL Development Secures $62.5 Million Loan For 270-Unit Gateway Project In Orlando
7250 Shadowridge Drive
$62,500,000
Units
270
Asset Type
Development Site
Closing
Aug 13, 2026
About this deal
AI
The asset involved in the transaction is a development site located at 7250 Shadowridge Drive in Orlando, FL. The property encompasses a total building square footage of 417,000 and is intended for the first phase of The Gateway luxury apartment project, which will feature 270 units.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $62,500,000
- Lender: Highland Commercial Mortgage
- Landlord: Michael Rem - JBL Development
- Market: Orlando, FL
- Completion Timeline: Expected completion next year
- Full Project Units: Approximately 1,000 units across four buildings
The key individuals in this transaction include Michael Rem, who represents JBL Development as the landlord, and Highland Commercial Mortgage, serving as the lender for the construction financing secured for the project.
Players
Tariff Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93