Inverlad Bags $61M Construction Loan for Orlando Mixed-Use

October 9, 2025

Market Rate Development Finance & Investment News More Orlando Southeast

The community will add to the city's strong development pipeline.

Real Estate Inverlad Development has obtained a $61.26 million construction loan for development of The Yard at Brookhaven, a 265-unit, 293,000-square-foot mixed-use residential community located near downtown Orlando, Fla. City National Bank provided a three-year, adjustable-rate loan.

Managing Director Marc Sumner of Berkadia Orlando arranged the financing on behalf of REID, an Orlando-based real estate firm active in the Americas. Orlando-based REID has a total development and investment portfolio of nearly 4.48 million square feet of residential, offices, retail and mixed-use assets in Orlando, New York, South Florida and Buenos Aires.

Located on about four acres at Brookhaven Drive and Virginia Drive in the Lake Ivanhoe/Lake Formosa neighborhood of Orlando, The Yard at Brookhaven will be a seven-story building featuring approximately 19,000 square feet of commercial space.

Amenities will include a seventh-floor pool deck with views of downtown Orlando, located roughly three miles away. The property will have a 500-space parking garage.

Catalyst Design Group planned the development’s streetscape, which includes parallel parking, a multi‐use trail and wide sidewalks for outdoor dining. As part of the development, REID built a new restaurant that’s adjacent to a nearby park.

Orlando multifamily market cools

Orlando, which had been a superheated multifamily market in recent years, has cooled lately, with a total of 5,619 units, or 2 percent of existing stock, coming on line this year through May, Yardi Matrix reports. That rate is double the national pace of completions, but construction starts in the city have been declining since the beginning of the year.

The largest community underway as of May was the 420-unit Northhaven. Royal Palm Cos. broke ground on the project in 2024, facilitated by a $68 million construction loan originated by City National Bank.

The metro’s average overall MF occupancy rate stood at 94.1 percent as of May for stabilized properties. That is a 10-basis-point decrease year-over-year, according to Yardi Matrix.

After nine months of rent declines, the Orlando multifamily market is finally showing signs of an uptick, with average advertised asking rents up 0.1 percent on a trailing three-month basis as of May, Yardi Matrix reports. That is 20 basis points below the U.S. rate.