JLL closes $50M sale and $35M financing of Orlando apartment community

ORLANDO, Oct. 1, 2024 – JLL Capital Markets announced today that it has closed the $50 million sale and $35 million financing of Avisa Lakes, a 292-unit, garden-style multi-housing community in Orlando, Florida.

JLL represented the seller, Lloyd Jones, LLC and ST Real Estate Holding Inc. (STRE), and procured the buyer, Beachwold Residential LLC. Additionally, JLL worked on behalf of Beachwold to secure the five-year acquisition loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo Lender.

Avisa Lakes consists of 16 residential buildings offering one- and two-bedroom units averaging 850 square feet each. Community amenities at the 96%-leased community include a playground, swimming pool, entertainment clubhouse and game room, two dog parks, a soccer court, fitness center and business center.

Positioned on a 22.4-acre site at 7960 Pine Crossing Circle, Avisa Lakes is strategically located near many of the area’s major roadways, including State Rd. 408, East Colonia Drive and State Rd. 417. The property is just 10 minutes from Orlando’s Central Business District and close to Central Florida Research Park, two of the largest office employment nodes in the area. Additionally, Avisa Lakes is close to a handful of colleges, including The University of Central Florida, Valencia College East Campus and Full Sail University.

JLL Capital Market’s Investment Sales and Advisory team was led by Directors Kyle Butler and Ted Taylor and Analyst Noli Muratovic.

JLL’s Debt Advisory team was led by Senior Managing Director Elliott Throne, Managing Director Jesse Wright and Director Josh Odessky.

“Avisa Lakes benefits from a strategic location near many of the area’s local employers, including office, healthcare and higher education,” said Butler. “Only three apartment communities have been delivered in the immediate area since 2006 making Avisa Lakes poised to capture strong future demand, especially in light of any future improvements made to the property.”

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.

For more news, videos and research resources, please visit JLL’s newsroom.

Celebrating 43 years under the continuing leadership of Christopher Finlay, Lloyd Jones has become a global real estate investment firm with subsidiaries in development, construction, and senior living operations. Its investment partners include institutions, family offices, accredited investors, and its own principals.

ST Real Estate Holding Inc. (STRE) is a private real estate investment firm, owned by ST Group, with over 60 years of experience in real estate development, investment, and advisory services. Led by Vice Chairman Patrick Lardi, STRE specializes in commercial and multifamily real estate, primarily focused on North America and Australia. For more information, please visit: stre-realestate.com.

Beachwold Residential is a family-owned real estate company, focused on the development, acquisition and management of multi-family properties. Through its vast operational and ownership experience, in depth knowledge of its target markets and long-lasting relationships with brokers, lenders and property managers, Beachwold is able to identify and acquire undervalued assets that offer superior long-term returns and lower than average risk. Beachwold controls over 16,000 multi-family units in Connecticut, New Jersey, Virginia, Georgia, Florida, Texas and Tennessee.