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Florida & Gulf Coast  + Central Florida  + Student Housing  | 
Union West at Creative Village in downtown Orlando, FL

$71M Bridge Loan Supports Student Housing in Orlando’s Creative Village

Berkadia has secured a $70.8-million bridge loan for UnionWest at Creative Village in downtown Orlando. The 640-bed, mixed-use student housing complex serves the University of Central Florida/Valencia College Downtown Campus and is 95% leased.

Michael Weinberg, Rebecca Van Reken and Alec Fox of Berkadia Orlando secured the financing on behalf of the sponsors: Development Ventures Group, Ustler Development and Halstatt Real Estate Partners. Bank of America provided the loan.

The 15-story UnionWest’s purpose-built student housing component offers four-bedroom floor plans. Valencia leases 55,000 square feet for educational programs, including its new Walt Disney World Center for Culinary Arts and Hospitality, while UCF leases 46,910 square feet for its academic and student support services.

UnionWest includes approximately 12,000 square-feet of ground floor commercial space. It’s parking garage contains 602 spaces with approximately 300 spaces allocated for residents and the remaining 300 spaces available for public/daily parking.

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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 he makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Financing