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 international mezzanine debt partner. Located at 5180 NE 71st Avenue, Magnolia at Powell is strategically positioned adjacent to The Villages, the nation’s leading 55+ active adult retirement community.
Completed in January 2025, Magnolia at Powell features spacious one-, two- and three-bedroom homes averaging 1,162 square feet with high-end finishes including quartz countertops, stainless steel appliances, and wood-style flooring throughout. Community amenities include a resort-style pool, fitness center, pickleball court and dog park. At closing, the property achieved 40% occupancy, with stabilization anticipated in 2026.
The property is well-positioned to benefit from its proximity to significant healthcare employers and The Villages’ four planned expansions: Eastport Town Center, Southward Expansion, Middleton Village and Wellness Village.
JLL Capital Market’s Debt Advisory team was led by Managing Director Max La Cava, Senior Managing Director Melissa Quinn, Vice President Rob Rothaug and Analyst Jade Starkey.
“We are thrilled to have delivered a creative capital solution to position Magnolia at Powell for success,” said La Cava. “This tactical bridge loan achieved Sponsor’s objectives of retiring the existing construction loan, reducing rate of interest, and building a robust capital reserve to allow the asset ample runway to reach stabilization.”
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.
