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JLL has arranged $35 million in construction financing for the development of Solamar Kissimmee build-to-rent townhome community near Orlando.

BTR’s Low-Density Layout Attracts Lenders to $35M Orlando Development

JLL has arranged $35 million in construction financing for the development of Solamar Kissimmee, a 210-unit, Class A build-to-rent townhome community in the suburb of Orlando, FL

A JLL team of Max La Cava, Brian Gaswirth and Drew Jennewein represented the borrower, Old Vineland Road LLC, to secure a three-year, non-recourse loan through a New York City-based debt fund.

“Lenders were attracted to Solamar Kissimmee given the property’s low-density layout, which is sought after by tenants, the market’s robust fundamentals characterized by population and employment growth and the major institutional appetite to acquire BTR assets offering a clear path towards an exit strategy,” said La Cava.

The property is located off US Highway 192 and positioned 10-minutes from NeoCity, a 500-acre master-planned technology district for smart sensors, photonics, nano technology research and big data/predictive analysis. It is 10 minutes to Walt Disney World Resort and 20 to the Orlando International Airport.

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JLL's La Cava

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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