BLD Group & JSB Capital Group Secures $156.5M Loan For Florida Multifamily Portfolio With Lender Rialto Capital

BLD Group and JSB Capital Group have secured a $156.5 million loan for their Class A multifamily portfolio in Florida. The portfolio consists of 864 units, including the lease-up V2 Apartments and Sunnyside Apartments, as well as the nearing completion Sundance Trails Apartments in Wildwood. The loan was obtained through Rialto Capital Management, providing financing for the refinance of the properties. The five-year, floating rate loan will support the ongoing development and management of these multifamily assets.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $156,500,000
• Asset Units: 864
• Lender: Rialto Capital Management
• Landlord: BLD Group & JSB Capital Group
• Broker: Eastdil Secured - Roy March
• Loan Type: Refinance
• Loan Terms: Five-year, floating rate loan

The BLD Group and JSB Capital Group successfully secured the loan through the involvement of their broker representative, Roy March from Eastdil Secured. This financing will enable the development and continued leasing efforts for the V2 Apartments and Sunnyside Apartments, both currently in lease-up, as well as the upcoming Sundance Trails Apartments in Wildwood. The loan terms provide flexibility with a five-year, floating rate agreement.