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.