$26 Million construction take-out bridge loan secured for Florida build-to-rent community
United States, July 18 -- JLL Capital Markets announced that it has arranged a $26 million construction take-out bridge loan for Magnolia at Powell, a newly constructed 132-unit build-to-rent community in Wildwood, Florida (The Villages MSA).JLL worked on behalf of the borrower, Agador Spartacus Development, in securing the three-year, floating-rate loan through a domestic investment management firm and their international mezzanine debt partner.Located at 5180 NE 71st Ave., Magnolia at Powell is strategically positioned adjacent to The Villages, the nation's leading 55+ active adult retirement community. The property offers a premium non-age-restricted housing option in an area experiencing explosive growth, with The Villages MSA populatio...
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