JLL Secures $77M Construction Loan For Multifamily Project In Daytona Beach

JLL has secured $77 million in construction financing for the development of Atlantica at Daytona, a 341-unit apartment community located at 1799 N. Williamson Blvd. in Daytona Beach.

The borrower, a joint venture between Sovereign Properties and Invest Capital Group, plans to open first units at the garden-style property in October 2024. Gregory Nalbandian, Jesse Wright and Joshua Odessky of JLL arranged the three-year loan with a 75 percent loan-to-cost ratio through Broadshore Capital Partners.

Atlantica at Daytona will feature one-, two- and three-bedroom units averaging 981 square feet in size. Amenities will include a resort-style pool, grill station, screened lanai with a fireplace, bar and TVs, outdoor summer kitchen, dog park, coworking space, game room and a high-tech fitness center.

Source:  RE Business