$65M capitalization secured for Southwest Florida multi-housing project by Roers Companies, a top 25 NMHC Developer

MIAMI, Jan. 3, 2024 – JLL Capital Markets announced today that it has arranged the $65 million construction financing and preferred equity for Marisol, a 292-unit, garden-style multi-housing development in Port Charlotte, Florida.

JLL represented the borrower, Roers Companies, to secure the non-recourse construction loan through Knighthead Funding and the preferred equity through Amzak Capital Management.

Situated at 1200 Loveland Blvd., the property is positioned between two of the fastest growing cities in the United States, North Port and Fort Myers, and is conveniently located just three minutes from Interstate 75, providing future residents convenient accessibility to Fort Myers, North Port and Sarasota. Residents will be just a two-minute drive from the Publix-anchored Peachland Promenade, and within 15 minutes of popular local attractions like Fisherman’s Village and the Port Charlotte Town Center. The property is within a short walk to Harold Avenue Regional Park and nearby local demand drivers like Neil Armstrong Elementary School and Maple Leaf Golf and Country Club. Additionally, residents will benefit from the proximity to Charlotte Harbor, Florida’s second-largest open-water estuary.

The JLL Capital Markets Debt Advisory team was led by Senior Managing Directors Christopher Drew, Lee Weaver and Scott Loving, Managing Director Brian Gaswirth and Analyst Shane Ciacci.

“Roers Companies has shown a consistent ability to identify exceptional locations for their developments while expanding their footprint in the Southeast,” said Gaswirth. “Their extensive experience and proven track record across the country has positioned them to take advantage of these difficult capital markets and break ground at a time when a lot of deals are getting shelved. Marisol serves as a testament to their capabilities and reputation.”

Roers Companies Partner Brian LeBlanc added, “We are excited to develop our second project in Florida, and Marisol will be the first in the state for our in-house general contracting team. Florida will be one of our most significant growth markets in the coming years, and we are big believers in the long-term fundamentals. We really like to set down roots where we are seeking to grow, which is why we opened our regional office in Tampa in 2023 after growing our project pipeline on the West Coast of Florida. Marisol in Port Charlotte will offer its future residents top-notch finishes and amenities plus exceptional access to local retail, amenities and major thoroughfares.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Roers Companies is an emerging national leader in multifamily real estate investment, development, construction and property management based in Minnesota. The company builds quality rental housing in areas where demand outpaces supply. The firm’s development projects and properties represent more than 11,000 apartment units in 14 states. In 2023, Roers Companies has been recognized as a National Multifamily Housing Council (NMHC) Top 25 Developer and named the Minnesota Real Estate Awards Developer of the Year.

Knighthead Funding, LLC (http://www.knightheadfunding.com), founded in 2013, is a national real estate finance company specializing in loans for the acquisition, renovation, construction and refinancing of commercial real estate across all asset classes. Knighthead originates loans for its managed real estate debt clients, Knighthead Annuity & Life Assurance Company and certain of its affiliates and for certain funds managed by its affiliate, Knighthead Capital Management, LLC, a New York-based SEC-registered investment management firm.

Amzak Capital Management is the private investment firm of the Kazma family. Over the past fifteen years, Amzak has transitioned from a family business primarily focused on the cable industry into an institutional investment manager with an investment perspective across a broad range of industries and strategies. ​Today, Amzak focuses on four major areas: fixed income, real estate, industrials, and healthcare industries. To a lesser extent, the firm also invests in public equity and, very selectively, alternative investments. These investments tend to be either opportunistic or complementary to one of its four investment groups.