
Three New Apartment Communities Refinanced for $156.5M
A joint venture between BLD Group and JSB Capital Group has announced it has refinanced a portfolio of three Class A multifamily properties in Florida.
Two of the properties — the 308-unit V2 Apartments in Fort Myers, and the 220-unit Sunnyside Apartments in Panama City Beach — are in lease-up. The third property — the 336-unit Sundance Trails Apartments in Wildwood — has nearly completed construction.
Eastdil Secured advised the joint venture on the financing, and a vehicle sub-advised by Rialto Capital Management originated the $156.5 million, five-year, floating rate loan that closed on July 14, 2023.
Each of these multifamily communities features contemporary layouts with luxurious finishes, including stainless steel appliances and granite countertops, as well as property amenities that include state-of-the-art clubhouses, business centers, fitness centers, resort-style pools with grilling and sun decks, common area Wi-Fi and electric car outlets.
- ◦Financing