Southern Waters Capital Secures $2.4 Million Acquisition Loan For Development Site In Ocala, FL

The asset involved is a development site located on Northeast 42nd Street in Ocala, FL. It is a fully approved 250-unit build-to-rent townhome development site with a build square footage of 372,000 square feet. The anticipated cost for the entire 250-unit project is approximately $73,000,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $2,400,000
• Lender: Sure Lending
• Landlord: Ray Mazzie - Southern Waters Capital
• Brokers: Jack Cortese & David Frankel - D2 Capital Advisors
• Loan Type: Acquisition Loan

D2 Capital Advisors facilitated the financing arrangement, securing $2,400,000 for the acquisition of the project. The development is strategically placed in the 5th fastest growing metropolitan area in the U.S., providing a significant opportunity for meeting housing demands in the region.