JLL Capital Markets represented a Latin American joint venture on their first build-to-rent acquisition in the United States
News release
24 April 2024
JLL Capital Markets secures $21M acquisition financing credit facility for build-to-rent forward-purchase in Orlando, Florida
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MIAMI, April. 24, 2024 – JLL Capital Markets announced today that it helped arrange a credit facility for Alexander Park, a newly built, 95-unit, build-to-rent townhome community in Kissimmee, Florida.
JLL worked on behalf of the borrower, a joint venture between CFB Homes and Montalva Quindos, to secure the acquisition financing from a regional bank.
Alexander Park is located on approximately 13.6 acres at 2626 Ham Brown Rd in Kissimmee, FL. The average unit size is 1,937-square-feet, with configurations that include three to four bedrooms, 2.5 bathrooms and two-car attached garages. The community’s amenity package includes a pool and cabana.
Alexander Park has direct access to U.S. HWY-17, a regional thoroughfare of the Orlando MSA and a direct artery of downtown Kissimmee. Additionally, the community is within a 35-minute drive to Orlando International Airport and a 22-minute drive to Interstate 4 (I-4 Corridor), providing direct connectivity to Tampa, Lakeland and Daytona Beach.
Kissimmee is the largest municipality in Osceola County, which has experienced significant a demographic growth with over 58 percent population growth since 2010 and a projected additional 24 percent increase by 2030.
The JLL Capital Markets team was led by Senior Director Max La Cava, Director Trey Pizzitola and Associate Mateo Bolivar.
“We are delighted to have helped secure a bank credit facility for the sponsors’ first build-to-rent investment in the United States,” said La Cava. “Credit facilities offer BTR investors a creative financing mechanism to acquire townhome communities in phases as buildings deliver, giving investors the option to structure forward-purchase contracts well in advance of project completion.”
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 sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.