Core mid-rise multifamily asset in Orlando trades hands

ORLANDO, Aug. 19, 2025 – JLL Capital Markets announced today that it has arranged the successful sale of M2 at Millenia, a 403-unit, core mid-rise multifamily asset located in Orlando, Florida.

JLL worked on behalf of the sellers, JSB Capital Group and BLD Group. The buyer was Independence Realty Trust, Inc.

Built in 2019, M2 at Millenia is a five-story structured parking asset offering a mix of one-, two- and three-bedroom units, with an average unit size of 943 square feet. Apartments boast luxury finishes including sleek granite countertops, energy-efficient stainless steel appliances, spacious closets and in-home washers and dryers. Community amenities include a resort-style pool, 24-hour fitness center, yoga studio, entertainment lounge with kitchen and bar and outdoor grilling areas. In addition to the residential units, M2 at Millenia features 4,216 square feet of ground-floor retail space with four tenants which maintained 100% occupancy throughout the marketing process and at the time of award.

Situated at 4206 Eastgate Dr., the community is located in one of Orlando's top 10 retail trade areas with large regional shopping destinations nearby. The asset provides easy access to Orlando's top employers and major transportation routes.

JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Directors Ted Taylor and Kyle Butler.

"M2 at Millenia presented investors with an excellent opportunity to acquire a core mid-rise asset with in-place SB102 tax savings in a prime Orlando location," said Taylor. "The property's high occupancy, attractive below-market assumable debt, and value-add potential made it a compelling investment."

"We continue to see strong investor demand for well-located multifamily assets in high-growth Florida markets like Orlando," added Butler. "M2 at Millenia's proximity to major retail and employment centers, coupled with its modern amenities, positions it well for long-term performance."

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.

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JSB Capital Group LLC is a private investment management platform specializing in private equity and alternative investments across various real estate asset classes. Leveraging its proprietary network and extensive experience, the firm focuses on generating superior risk-adjusted returns through cash-flowing investments with limited exposure to cyclical volatility. JSB Capital Group's team is composed of industry veterans known for their decades of achievement, reputation and integrity in the investment world.

BLD Group is a privately held real estate investment, development, and management firm with more than 40 years of experience across major U.S. markets. Backed by multiple generations of real estate expertise, the company’s principals have been involved in over $10 billion in real estate transactions, including the development of more than 4 million square feet of commercial space and the construction of over 10,000 residential units. BLD Group is recognized for its strategic approach, long-term value creation, and commitment to fostering strong relationships with tenants, partners, and communities. The firm’s proven track record reflects a deep understanding of market dynamics and a consistent ability to execute across the full real estate lifecycle.

Independence Realty Trust (IRT) is a NYSE MKT-listed REIT that owns and manages over 38,000 apartment homes across the Southeast and Midwest United States. With dual headquarters in Philadelphia, PA and Chicago, IL and a national workforce exceeding 900 employees, IRT is committed to providing residents with exceptional living spaces and creating an outstanding work environment for its team members.