Kimaya Debuts 232-Unit Orlando SFR Community

Banc of California originated a $44.3 million construction loan for this project.

Ocoee Village Townhomes
Ocoee Village Townhomes includes 41 buildings on some 24 acres. Image courtesy of Kimaya Real Estate

Kimaya Real Estate, an affiliate of Park Square Homes, has opened Ocoee Village Townhomes, a 232-unit luxury townhome community in Ocoee, Fla., near Orlando.

To finance the project, the developer took out a $44.3 million construction loan from Banc of California in 2021, according to Yardi Matrix data. Financing for the development also included two loans from Pacific Western Bank and Heitman totaling $57.9 million, as the Orlando Business Journal reported. The developer acquired the roughly 24-acre site in March 2021 for $7.4 million, the same source shows.

Ocoee Village Townhomes encompasses 41 buildings with three- and four-bedroom floorplans ranging from 1,522 to 1,737 square feet. Residences feature vaulted ceilings, in-unit washers and dryers, walk-in closets and smart home technology. Common-area amenities include a swimming pool, pickleball court, dog park and EV charging stations.

Located at 2028 Marigold Park Drive, the property is roughly 17 miles from Orlando and some 5 miles north of Orlando Health – Health Central Hospital.

Robust SFR development in Orlando

As of today, there are 14 single-family rental projects under construction in the metro, for a total of nearly 2,400 units, according to Yardi Matrix information. Additionally, another 3,500 units across 15 projects are currently in the planning and prospective stages.

Last year, Orlando was among the top 20 markets nationwide for BTR development. A recent RentCafe report showed that 449 units came online across the metro in 2023.