Florida

JLL Arranges $26M Construction Loan for 132-Unit Build-to-Rent Community in Wildwood, Florida

by Abby Cox July 18, 2025

WILDWOOD, FLA. — JLL Capital Markets has arranged a $26 million construction take-out bridge loan for Magnolia at Powell, a newly constructed, 132-unit build-to-rent residential community in Wildwood, roughly 50 miles outside Orlando. Max La Cava, Melissa Quinn, Bob Rothaug and Jade Starkey of JLL’s Debt Advisory team arranged the three-year, floating-rate loan on behalf of the borrower, Agador Spartacus Development, through a domestic investment management firm and its international mezzanine debt partner. Completed in January 2025, Magnolia at Powell is situated just outside of The Villages and is currently 40 percent occupied. The complex, which is an age-inclusive housing option, offers one-, two- and three-bedroom townhomes averaging 1,162 square feet in size. Amenities include a resort-style swimming pool, fitness center, pickleball court and a dog park. Monthly rental rates for a one-bedroom townhome at Magnolia at Powell begin at $1,350, according to Apartments.com.

July 18, 2025

Acquisitions Florida Net Lease Retail Southeast

SRS Negotiates $4.5M Ground Lease Sale of Central Florida Retail Property Leased to Walmart

by Abby Cox July 18, 2025

DELTONA, FLA. — SRS Real Estate Partners has negotiated the $4.5 million ground lease (land ownership) sale of a retail property located at 1569 Saxon Blvd. in Deltona. The property is situated 30 miles north of Orlando within the mixed-use development of Deltona Village, which is currently under construction. Walmart occupies the 41,335-square-foot retail property on an absolute triple-net-lease with 10 years remaining on its lease term. Patrick Nutt and William Wamble of SRS Real Estate represented the seller, a private partnership, in the transaction. The Pennsylvania-based private buyer was a repeat client of SRS.

July 18, 2025

Acquisitions Florida Retail Southeast

O’Connor Capital Buys Shopping Center in Delray Beach, Florida for $28.8M

by John Nelson July 17, 2025

DELRAY BEACH, FLA. — O’Connor Capital Partners has purchased Delray Corner, an 86,000-square-foot retail center located in Delray Beach, roughly eight miles north of Boca Raton, for $28.8 million. Situated on 9 acres, Michaels and CVS anchor the center, which was 96 percent leased at the time of sale. Other tenants include Hacienda Mexican Restaurant, Enterprise Rent-A-Car, Power Financial Credit Union and Taso’s Greek Taverna & Bar. Originally constructed in 1981, the property underwent significant repositioning in 2023 for the addition of the Michaels store and a Conviva Care center, as well as the construction of a new Starbucks Coffee outparcel. Douglas Mandel and Zach Levine of Marcus & Millichap’s Fort Lauderdale office represented the seller, Berta Management, and procured the buyer in the transaction.

July 17, 2025

Development Florida Southeast Student Housing

Deven, Castle Lanterra Break Ground on $95M Student Housing Development Near University of Central Florida

by John Nelson July 16, 2025

ORLANDO, FLA. — A partnership between Development Group Ventures, a subsidiary of Kajima USA and Kajima Corp., and Castle Lanterra have broken ground on a 631-bed student housing development near the University of Central Florida (UCF) campus in Orlando. Additional contributors to the project include PLT America Corp. and Sumitomo Mitsui Trust Bank, which provided financing for the project. Situated within the Quadrangle Business Park, the estimated $95 million project will total 304,969 square feet and comprise five stories. Completion is slated for summer 2027. The development will offer 177 units in one- to six-bedroom configurations. Shared amenities will include a sky lounge with lake views, golf/multi-sport simulator, rock climbing wall, outdoor fitness lawn with a sauna and cold plunge, Jumbotron, resort-style swimming pool, study spaces on each floor, game rooms, an activity kitchen, bicycle storage and a UCF shuttle stop.

July 16, 2025

Development Florida Multifamily Southeast

City of Boca Raton Approves 306-Unit Modera Boca Apartment Development

by John Nelson July 16, 2025

BOCA RATON, FLA. — The City of Boca Raton’s Community Redevelopment Agency has approved the community plan submission for Modera Boca, a 306-unit apartment development that will be located at 400 S. Dixie Highway. The developers include Mill Creek Residential and Group P6, who will move forward with the ground breaking in the near future. Planned amenities at Modera Boca will include a pool, lounge, fitness center, coworking spaces, dog park, clubhouse and a Zen garden. In addition to the apartment community, the project will include new pedestrian features along Dixie Highway and a revitalization of a neighboring city park.

July 16, 2025

Development Florida Southeast Student Housing

ACC to Break Ground on 898-Bed Student Housing Development Near University of Central Florida

by Abby Cox July 14, 2025

ORLANDO, FLA. — American Campus Communities (ACC) is set to break ground on an 898-bed student housing development located near the University of Central Florida (UCF) campus in Orlando. The development site is located adjacent to ACC’s existing Plaza on University community. Scheduled for completion in 2027, the development will offer studio, four- and five-bedroom floorplans. Amenities at the property — which is pursuing Fitwel certification — will include recreational and study spaces, a resort-style swimming pool and spa, outdoor kitchens, fire pits, lounge areas and modern fitness and wellness facilities. Niles Bolton Associates designed the project, while Clancy & Theys Construction will serve as the general contractor.

July 14, 2025

Florida Leasing Activity Multifamily Southeast

Global City, Gilu Welcome First Residents to 255-Unit Luxury Apartment Community in Fort Myers, Florida

by Abby Cox July 14, 2025

FORT MEYERS, FLA. — Global City Development and Gilu Development have begun welcoming residents to Reva, a 255-unit luxury apartment community located in Fort Meyers. Situated on Crystal Drive and Six Mile Cypress Parkway, the complex features a mix of one-, two- and three-bedroom floorplans ranging in size from 786 square feet to 1,690 square feet. Reva also offers three-bedroom villas with two-car garages and a private driveway. Rental rates begin at $1,700 for a one-bedroom unit. The community is anchored by a two-story, 6,200-square-foot clubhouse overlooking a private lake, with additional amenities including a swimming pool, fitness center with open-air workout spaces, meditation area, coworking areas with Zoom studios, event room, package lockers, onsite management and a convenience store located inside the clubhouse. Additionally, the community is offering a $1,000 bonus to “hometown heroes,” such as medical professionals, policemen and firefighters.

July 14, 2025

Acquisitions Florida Retail Southeast

Marcus & Millichap Brokers $8.4M Sale of Ocean Village Square Shopping Center in New Smyrna Beach, Florida

by Abby Cox July 11, 2025

NEW SMYRNA BEACH, FLA. — Marcus & Millichap has brokered the $8.4 million sale of Ocean Village Square, a 60,631-square-foot shopping center located at 4154 – 4198 S. Atlantic Ave. in New Smyrna Beach. Built in 1986, the center is anchored by Dollar General and sits on 9 acres. Other tenants at the property include Nautilus Fitness NSB, Touch of Italy and the Atlantic Wellness Center. David Vaughan and Ray Turchi of Marcus & Millichap procured the buyer, a private investor based in Central Florida. The seller was not disclosed.

July 11, 2025

Florida Leasing Activity Mixed-Use Southeast

L&L Holding, Oak Row Equities Secure 75,000 SF Office Lease Expansion with Amazon in Miami

by Abby Cox July 11, 2025

MIAMI — L&L Holding Co. and Oak Row Equities have secured a lease expansion with Amazon at Wynwood Plaza, a 1 million-square-foot mixed-used development located within Miami’s Wynwood Arts & Entertainment District. The lease expansion — which will total more than 75,000 square feet — builds on Amazon’s original agreement in January to lease 50,333 square feet at the campus. Bryan Lapidus of L&L Holding, as well as Andrew Trench, Edward Quinon and Brian Gale of Cushman & Wakefield, represented Wynwood Plaza’s ownership in the lease negotiations. Tom Capocefalo and Mike Catalano of Savills represented Amazon. Wynwood Plaza’s office tower totals 266,000 square feet with a dedicated second-floor amenity hub that includes a fully equipped fitness center with showers and lockers, a golf simulator and conference rooms. Additional offerings include a landscaped rooftop with flexible seating options and shaded areas, a 25-foot grand lobby, air filtration systems, destination dispatch elevators with touchless entry and an onsite parking garage.

July 11, 2025

Development Florida Multifamily Southeast

Codina Partners Breaks Ground on South Florida Multifamily Community, Secures $100M Construction Loan

by John Nelson July 10, 2025

DORAL, FLA. — Codina Partners has broken ground on Sevilla, a seven-story, 412-unit apartment property within the 250-acre Downtown Doral mixed-use development in metro Miami. Additionally, Codina Partners has secured a $100 million construction loan from Regions Bank and Ocean Bank. Regions Bank will fund 65 percent of the loan, while Ocean Bank is providing the remaining 35 percent. Located at the corner of N.W. 53rd Street and N.W. 52nd Terrace, Sevilla will sit on 4.2 acres one block from UHealth’s new Ambulatory Center. The mid-rise apartment community will comprise one-, two- and three-bedroom apartments ranging in size from 720 to 1,708 square feet. Amenities will include a beach-entry pool and a pool deck with private cabanas and grilling areas; Zen courtyard with a dog park; rooftop deck with pickleball courts, yoga yard, walking path and seating; clubroom and lounge; two-story fitness center; and a rideshare lobby. Codina will develop Sevilla in two phases, with Phase I welcoming residents in first-quarter 2027 and Phase II delivering by third-quarter 2027. Codina’s Multi-Family Property Management Division will operate the property.

July 10, 2025

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