Mesa West Capital Provides $66M for New Orlando Community
The Class A community was delivered in August.
Onicx Group has received a $66.3 million first mortgage loan to refinance Nova at East Park Village, a 264-unit newly-constructed multifamily community located in Orlando, Fla. Mesa West Capital provided the floating-rate loan to the garden-style apartment community, which came online this past August.
JLL arranged the financing with Mesa West Capital, led by Director Kenny Cutler and Managing Director Jesse Wright.
Nova at East Park Village began construction back in 2022, and was funded with a $52.2 million construction loan from ServisFirst Bank, according to Yardi Matrix information. The community has one to three-bedroom apartments with in-unit laundry, stainless steel appliances and wood flooring, with some units as being listed as ADA-compliant. Yardi Matrix shows the average asking rent as $2,076 per month and square footage as ranging between 751 square feet and 1,370 square feet.
The Lunz Group designed the property, which was built on 26 acres and spans 264,000 square feet with three four-story apartment buildings. Live Oak Contracting acted as the general contractor and ZRS Management is the property manager. Located at 10403 Via Parco Orienta in Orlando, Fla., Nova at East Park Village is 21 miles from Walt Disney World and over eight miles from the Orlando International Airport.
When the project first broke ground, Florida YIMBY reported that the property would include a 15,000-square-foot retail space as well as a 60,000-square-foot medical office building, which will be the AdventHealth Sports Med & Rehab facility. Retail options to come are listed as Coffee For The Soul, BaBbi BaBbi Korean Kitchen, Wingstop, City Pho and Noir Nail Bar.
Other community amenities include a heated swimming pool with cornhole, bocce and cabanas, a coworking space, a fitness center and playground, in addition to bike and walking trails. For residents with pets, Nova at East Park Village also features a bark park and an on-site dog spa.
Other Orlando action
Through May 2025, Orlando’s multifamily market started showing signs of progress in rent growth after nine months of negative numbers, according to a Yardi Matrix report from July. Asking rents were up 0.1 percent to an average of $1,772, but the market has been slowing down over the last couple of years.
READ ALSO: Orlando Multifamily Report – July 2025
The metro remains active, with 5,619 units under construction as of July, according to Yardi Matrix. Adding to the city’s pipeline, The Yard at Brookhaven, a mixed-use project combining retail and residential components, recently secured a $61.26 million construction loan. Orlando continues to rank among the region’s emerging housing markets, supported by steady population gains and developer interest in mixed-use formats.
