JV Equity, $70M Construction Loan Secured For Master-Planned Community In Ocala

JLL Capital Markets has arranged joint venture equity and a $70 million construction and pre-development loan for Aurora Oaks Phase I, II and III. The master-planned community will feature 1,096 units across all phases once complete.

JLL represented Calibrex Developments in arranging the joint venture partnership with Southern Impression Homes, a Sumitomo Forestry-owned homebuilder, and the construction debt through a publicly traded mortgage REIT.

Located at 6280 Southwest 52nd St., Aurora Oaks is a 122-acre master-planned development that will deliver 1,096 units across three phases, with a mix of single-family homes, townhomes and apartments. Phase I consists of a 197-unit build-to-rent townhome community, and Phases II and III account for the remaining 899 residential units.

JLL Capital Market’s Debt Advisory team representing the sponsor was led by Managing Director Max La Cava and Senior Managing Director Christopher Drew.

“This transaction brings together two global firms: Calibrex Developments, one of Canada’s premier luxury residential developers, and Southern Impression Homes, a major build-to-rent developer backed by Sumitomo Forestry, one of Japan’s oldest companies, founded in 1691,” said La Cava. “The capital structure here was complex, and it worked because both executive teams brought real creativity and a true partnership mentality to the table. Special thanks to our friend Steve Bruno, CEO of Calibrex Developments, for entrusting JLL to help execute his vision for Aurora Oaks, and to Chris Funk, President of Southern Impression Homes, for bringing that same creative energy to the deal. It’s an honor to work alongside the brightest minds in the business to produce winning outcomes for all stakeholders.”

Calibrex Developments, in partnership with Southern Impression Homes, began construction in July 2026 with Phase I completion expected in 2028.