Investor Group Procures $59.6M Refi for Davenport Rental Asset

 Sovereign Properties and Invest Capital Group obtained refinancing on a 360-unit apartment community in Davenport, Florida. The $69.6 million loan includes a two-year, floating-rate bridge loan through Timbercreek Capital. 

Completed in December 2022, the Atlantica at Town Center – Phase I features 14 three- and four-story residential buildings, comprising of one-, two- and three-bedroom units ranging from 683 square feet to 1,435 square feet, which are some of the largest units in the area. Additionally, the garden-style community offers residents amenities, such as a pool, gaming lawn, dog park, pet spa, fitness center, yoga and spin room, demonstration kitchen and coworking space. 

Located at 1121 Loblolly Lane, Atlantica at Town Center offers residents access to cultural and entertainment destinations including Posner Park, Orlando International Airport and Downtown Orlando. Furthermore, the property is less than 15 miles away from Walt Disney World and Universal Studios.

A JLL Debt Advisory team was led by Gregory Nalbandian, Kenny Cutler and Josh Odessky.