JLL arranges $12M refinancing for Orlando industrial center

March 04, 2020

The 8-building light industrial facility is 96% leased 

MORRISTOWN, N.J., March 4, 2020 – JLL Capital Markets announced today that it has arranged a $12 million refinancing for Silver Star Commerce Center, an eight-building light industrial center totaling 254,915 square feet in Orlando, Florida.

JLL worked on behalf of the borrower, Denholtz Properties, to secure the seven-year fixed-rate loan with BankUnited. Loan proceeds will be used to refinance the loan HFF placed in 2017, which Denholtz Properties used to acquire the property and make capital improvements to the complex and individual units. Since purchasing the property, the borrower has invested more than $1 million into the space.

Situated on 19.50 acres at 3600-3820 Silver Star Road, Silver Star Commerce Center is in the Northwest Orange County Industrial submarket. The center is within one mile of both State Route 434 and U.S. Highway 411 and proximate to Interstate 4, all of which provide unparalleled access to the state of Florida. Additionally, the property is less than 12 miles from Orlando International Airport. Constructed in phases between 1971 and 1985, Silver Star Commerce Center features ceiling clear heights of 14 to 20 feet, and the 96%-leased multi-tenanted property houses 28 tenants across 30 occupied suites.  

The JLL Capital Markets team representing Denholtz Properties was led by Senior Managing Directors Jon Mikula and Michael Klein, Director Maxx Carney and Analyst Carlos Silva.

“JLL is pleased to have been able to work with Denholtz Properties to finance this asset a second time,” stated Klein. “It’s great to watch a strong operator such as Denholtz implement their business plan and be rewarded for their efforts.”

“BankUnited was uniquely suited to refinance this asset for Denholtz given their strong track record financing similar assets in Central and South Florida,” Carney added. “The combination of an exceptional borrower and operator, a superior asset, strong market fundamentals and a creative lender will help position Silver Star Commerce Center as one of the premier light industrial assets in central Florida.”

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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About JLL

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 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Denholtz Properties 

Denholtz Properties is a leading privately held, fully integrated commercial real estate development and investment company. Powered by technology and driven by their deep experience, they are continually working to reimagine real estate, creating innovative living and working spaces. Their diversified portfolio of real estate investments spans industrial and office properties as well as transit-oriented mixed-use and value-add projects in urban cores aimed at enhancing and transforming the communities to deliver superior risk-adjusted returns to investors.