News Summary
JLL Capital Markets has secured a €26 million construction loan for Magnolia at Powell, a 132-unit residential community in Wildwood, Florida. The loan, structured over three years, will support the community’s transition to full leasing. With amenities like a resort-style pool and fitness center, Magnolia at Powell caters to diverse residents with one, two, and three-bedroom options. Currently, it is 40 percent occupied, and rental rates start at $1,350 for a one-bedroom unit. The financial backing positions the community for growth and sustainability.
JLL Capital Markets Secures $26 Million Loan for Magnolia at Powell Residential Community
JLL Capital Markets has successfully arranged a significant construction take-out bridge loan amounting to $26 million for the newly constructed Magnolia at Powell, a residential community located in Wildwood, Florida. This new community, which features 132 units, is designed specifically for build-to-rent living, catering to an increasing demand for flexible housing options.
Strategic Financing for Growth
The loan has been structured as a three-year, floating-rate financial product, tailored to meet the needs of the borrower, Agador Spartacus Development. The financing was facilitated by JLL’s dedicated Debt Advisory team, which comprises specialists known for their expertise in real estate finance.
Magnolia at Powell is located approximately 50 miles outside of Orlando, making it a prime location for residents who wish to enjoy a suburban lifestyle while remaining connected to the amenities of a larger city. As of now, the community has reached a total occupancy rate of 40 percent, indicating a strong interest in the available residential options.
Community Features and Amenities
This residential community offers a variety of age-inclusive housing options, including one-, two-, and three-bedroom townhomes. The average size of these units is around 1,162 square feet, catering to a diverse clientele seeking comfortable living spaces.
Residents at Magnolia at Powell can enjoy a plethora of modern amenities aimed at enhancing their living experience. Notable features include a resort-style swimming pool, expansive fitness center, pickleball court, and a dedicated dog park, making it a family-friendly environment.
Market Positioning and Rental Rates
According to rental listings, the price for a one-bedroom townhome at Magnolia at Powell starts at $1,350 per month. This pricing strategy positions the community competitively in the local rental market, appealing to a range of potential renters from singles to families.
Contribution to Local Development
The newly secured loan will play a pivotal role in ensuring the financial success of the Magnolia at Powell community as it works towards becoming fully leased and operational. This initiative not only signifies a robust investment in the local real estate market but also highlights the ongoing demand for rental housing in areas surrounding Orlando.
JLL Capital Markets continues to demonstrate its capacity as a global provider of capital solutions for real estate investors and occupiers, employing over 3,000 specialists across the globe. Their successful navigation of intricate financing solutions enhances the viability of developments such as Magnolia at Powell, supporting growth and sustainability in the housing sector.
Deeper Dive: News & Info About This Topic
Additional Resources
- Rebusiness Online: JLL Capital Markets Secures $26 Million Loan for Magnolia at Powell
- JLL Newsroom: New Construction Sale of Luxury Multifamily Complex, Florida
- US News: The Fastest Growing Places in the US
- WESH: Immigration Arrests in The Villages
- Google Search: Real Estate Communities in Florida
