JLL Capital Markets announced that it has closed the $50 million sale and $35 million financing of Avisa Lakes, a 292-unit, garden-style multifamily community in Orlando, Florida.
JLL represented the seller, Lloyd Jones, LLC and ST Real Estate Holding Inc. (STRE), and procured the buyer, Beachwold Residential LLC. Additionally, JLL worked on behalf of Beachwold to secure the five-year acquisition loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo Lender.
Positioned on a 22.4-acre site at 7960 Pine Crossing Circle, Avisa Lakes is strategically located near many of the area’s major roadways, including State Road 408, East Colonia Drive and State Road 417. The property is just 10 minutes from Orlando’s Central Business District and close to Central Florida Research Park, two of the largest office employment nodes in the area. Additionally, Avisa Lakes is close to a handful of colleges, including The University of Central Florida, Valencia College East Campus and Full Sail University.
JLL Capital Market’s Investment Sales and Advisory team was led by Directors Kyle Butler and Ted Taylor and Analyst Noli Muratovic.
JLL’s Debt Advisory team was led by Senior Managing Director Elliott Throne, Managing Director Jesse Wright and Director Josh Odessky.
“Avisa Lakes benefits from a strategic location near many of the area’s local employers, including office, healthcare and higher education,” said Butler. “Only three apartment communities have been delivered in the immediate area since 2006 making Avisa Lakes poised to capture strong future demand, especially in light of any future improvements made to the property.”
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.
