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JLL Secures $32.7M Loan For Development Site In Wildwood, Florida

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FINANCED
$32,700,000

Florida

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Development Site
Financed 11/02/2023
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FINANCED

JLL Secures $32.7M Loan For Development Site In Wildwood, Florida

Development Site
Financed 11/02/2023
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Summary

Asset Type:Development Site
Transaction Type:Loan

JLL has secured $32.7 million in financing for the development of Townhomes at Powell, a 132-unit build-to-rent community in Wildwood, Florida, near The Villages. The property, developed by Agador Spartacus Development, will offer 92 two-story flats and 36 townhomes.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $32,700,000
  • Market: Wildwood

The development of Townhomes at Powell in Wildwood, Florida, has been financed with a loan of $32.7 million. The build-to-rent community, consisting of 92 two-story flats and 36 townhomes, is being developed by Agador Spartacus Development. JLL, represented by brokers Justin Sosa, Max La Cava, and Shane Ciacci, facilitated the financing for this project.

Players

Max La Cava
44 deals$1.5B volume(917) 825-7346
BROKER

Shane Ciacci
JLL
10 deals$920.8M volume
BROKER

Justin Sosa
JLL
1 deal$32.7M volume
BROKER

LANDLORD


Details

FINANCED
IMAGE: Shane Ciacci, Alan Benenson, Max La Cava, Alberto Dichi, Justin Sosa & Samy Cohen DATE: 11/02/2023 MARKET: Wildwood ASSET TYPE: Development Site LANDLORD: Agador Spartacus Development - Samy Cohen, Alberto Dichi (@Aberto.Dichi) & Alan Benenson BROKERS: Justin Sosa, Max La Cava (@Max_La_Cava) & Shane Ciacci - JLL (@JLL) LOAN AMOUNT: $32,700,000 LOAN TERMS: non-recourse NOTE: JLL has secured $32.7 million in financing for the development of Townhomes at Powell, a 132-unit build-to-rent community in Wildwood, Florida, near The Villages. The property, developed by Agador Spartacus Development, will offer 92 two-story flats and 36 townhomes.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$32,700,000.00

Monthly NOI$218,000.00
Monthly Debt Service$206,686.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00