Freddie Mac Provides “Attractive” Loan for Orlando-Area Multihousing Community
Beachwold Residential took advantage of historically low rates that better position both them and a 240-unit garden-style asset for many years to come, according to those familiar with the deal.
DAVENPORT, FL—JLL Capital Markets has arranged a $32.25 million refinancing for Lake House, a 240-unit, garden-style multi-housing community in Davenport, FL. JLL worked on behalf of the borrower, Beachwold Residential, to secure the 10-year, floating-rate loan through Freddie Mac.
According to a prepared release, 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 release notes that 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.”