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Florida & Gulf Coast  + North Florida  + Apartments  |  June 24, 2022
American Commercial Realty Corp., has acquired a portfolio of three apartment communities in Gainesville, FL for $51M.
Lisa McDuffie
By: Lisa McDuffie

American Commercial Drops $51M for Three Communities a Skip from UF

JLL has closed $51.3 million in acquisition financing for a three-property multi-housing portfolio in Gainesville, FL.

Elliott Throne and Kenny Cutler of JLL represented the borrower, American Commercial Realty Corp., to secure the three-year loan through Trez Capital, a Canadian non-bank commercial real estate lender.

The portfolio consists of the 146-unit Cazabella Apartments, the 128-unit Camelot Apartments and the 56-unit Village 34 Apartments. The three garden-style communities feature a mix of one-, two- and three-bedroom floorplans with an average unit size of 874 square feet.

The properties are less than one mile from the University of Florida and are near Butler Plaza, according to JLL the largest power center in FL, and Celebration Pointe, a one-million-square-foot, mixed-use center.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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