Freddie Mac provides $32.25M loan for Orlando-area community
JLL Capital Markets arranges the 10-year loan for the 240-unit Lake House property
MIAMI, June 1, 2020 – JLL Capital Markets announced today that it has arranged a $32.25 million refinancing for Lake House, a 240-unit, garden-style multi-housing community in Davenport, Florida.
JLL worked on behalf of the borrower, Beachwold Residential, to secure the 10-year, floating-rate loan through Freddie Mac. The loan will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender.
Lake House is situated on 19.72 acres at 200 Village Boulevard in the community of Davenport, outside of Orlando. The property benefits from several nearby employment demand drivers, including Walt Disney World, Universal, numerous Fortune 500 distribution centers and Orlando Health’s new “Reunion Village” development. Additionally, the immediate area surrounding the property offers residents an abundance of retail, restaurants, recreation and entertainment offerings. Renovated in 2019, Lake House offers tenants one-, two- and three-bedroom floor plans, and community amenities that include a pet-friendly environment, clubhouse, health and fitness center, car care area, basketball court, outdoor grill, swimming pool, tennis court and bark park.
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Mona Carlton, Managing Director Elliott Throne, Directors Jesse Wright and Amit Kakar and Associate Michael DiCosimo.
“This refinance is a testament to lenders like Freddie Mac who continue to provide unbelievably attractive financing terms in a unique time when all else seems uncertain,” Throne said. “Beachwold was able to take advantage of historically low rates that better position both them and this great asset for many years to come.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Beachwold Residential
Beachwold Residential and its principals have built, owned and managed multifamily properties for 40 years. The firm controls 57 properties and 15,000 multifamily units in Connecticut, Texas, Florida, Georgia, Virginia, Maryland, New Jersey and Tennessee.