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JLL Arranges $38M Construction Financing For GroveParc Townhomes In Wesley Chapel

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FINANCED
$38,000,000
Max La Cava
Drew Jennewein
Matthew Putterman

Florida

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MultiFamily
Financed 06/20/2023
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FINANCED

JLL Arranges $38M Construction Financing For GroveParc Townhomes In Wesley Chapel

6568 Halo Bend Ct Wesley Chapel, FL 33544, USA

See Similar Deals
MultiFamily
Financed 06/20/2023
Max La Cava
Drew Jennewein
Matthew Putterman
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Loan

JLL Capital Markets has arranged $38 million in construction financing for GroveParc Townhomes, a 190-unit build-to-rent development located at 6568 Halo Bend Court in Wesley Chapel, Florida. The project is being led by ResiBuilt and is expected to be completed in January 2025. The upscale townhomes will offer a range of amenities and are conveniently located near Downtown Tampa.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $38,000,000
  • Units: 190
  • Landlord: ResiBuilt

The loan for GroveParc Townhomes was secured through JLL, with Drew Jennewein and Max La Cava as the representatives from JLL Capital Markets. Matthew Putterman also played a role in the transaction as a representative from JLL. This financing will support the construction of the townhome development, adding to the housing options in Wesley Chapel.

Players

Drew Jennewein
JLL
Drew Jennewein
5 deals$241.8M volume
BROKER
Max La Cava
JLL
Max La Cava
44 deals$1.5B volume(917) 825-7346
BROKER
Matthew Putterman
JLL
Matthew Putterman
10 deals$491.8M volume(713) 852-3524
BROKER

Details

FINANCED
IMAGE: Drew Jennewein, Max La Cava & Matthew Putterman DATE: 06/20/2023 ADDRESS: 6568 Halo Bend Court MARKET: Wesley Chapel ASSET TYPE: MultiFamily ~ UNITS: 190 LANDLORD: ResiBuilt BROKERS: Drew Jennewein - JLL, Max La Cava - JLL, Matthew Putterman LOAN AMOUNT: $38,000,000 LOAN TYPE: Construction NOTE: JLL Capital Markets has arranged $38 million in construction financing for GroveParc Townhomes, a 190-unit build-to-rent development in Wesley Chapel, Florida. The project, led by ResiBuilt, is expected to be completed in January 2025 and will offer upscale townhomes with a range of amenities in a prime location near Downtown Tampa.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$38,000,000.00

Monthly NOI$253,333.33
Monthly Debt Service$240,185.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00