JLL Arranges $26M Construction Loan for 132-Unit Build-to-Rent Community in Wildwood, Florida

JLL Secures $26M Construction Take-Out Bridge Loan for Florida BTR Community Magnolia at Powell

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 […] The post JLL Secures $26M Construction Take-Out Bridge L…

JLL Arranges $26M Construction Loan for 132-Unit Build-to-Rent Community in Wildwood, Florida

WILDWOOD, FLA. — JLL Capital Markets has arranged a $26 million construction take-out bridge loan for Magnolia at Powell, a newly constructed, 132-unit build-to-rent residential community in Wildwood, roughly 50 miles outside Orlando. Max La Cava, Melissa Quinn, Bob Rothaug and Jade Starkey of JLL’s Debt Advisory team arranged the three-year, floating-rate loan on behalf of the borrower, Agador Spartacus Development, through a domestic investmen…