Integra Scores $51.8M Construction Loan for Leesburg Project

Dwight Capital has successfully closed a $51.8 million HUD 221(d)(4) construction loan for the development of Integra Isles, a planned 264-unit, market-rate apartment community in Leesburg, Florida. The loan proceeds will provide construction and permanent financing for the developer, Integra Land Company. Land South is the contractor. Leesburg is just outside Orlando.

Situated on 15.5 acres, the development will feature 132 one-bedroom units, 114 two-bedroom units, and 18 three-bedroom units spread across 11 three-story garden-style buildings, as well as a one-story clubhouse and leasing office. 

Integra Isles is designed to offer a diverse range of amenities, including a clubhouse with a game room, fitness center, resort-style pool with cabanas, dog park, indoor pet spa, grill station, fire pit, and sports bar. Each apartment will have screened balconies or patios. 

The project qualifies for a reduced Green Mortgage Insurance Premium (MIP) of 25 basis points, as Integra Isles is pending a National Green Building Standard Bronze Certification.

Brandon Baksh and Karnveer Bal originated this transaction.