HFF Lands Financing for Upscale Winter Garden Project
- May 12, 2015
HFF has arranged financing for the Windermere Cay multifamily property in Winter Garden. The company secured the $41 million, 10-year fixed-rate loan through New York Life Real Estate Investors on behalf of the borrower, Six Pines Realty, L.L.C.
The HFF team was led by managing director Elliott Throne, senior managing director John Rose, director Michael Weinberg and analysts Anthony Frogameni and Preston Reid. “The lender was able to provide a creative structure to the borrower that allowed for a long-term, fixed-rate loan on both phases as if they were both stabilized,” Weinberg said in a statement.
Built on a 14-acre site at 8200 Jayme Drive, adjacent to Walt Disney World, the Class A, garden-style community is located in Winter Park’s upscale Windermere neighborhood. The area is northwest of Disney University, Disney’s global training program, and it has immediate access to the facility’s employee parking lot and shuttle.
The first phase, comprising 272 units, was finished last year, and those apartments are fully leased. Completion of the second phase, scheduled for this autumn, will expand the community to 380 units. Three floor plans are available, with one to three bedrooms and up to two baths.
When complete, Windermere Cay will feature two resort-style swimming pools with cabanas, a dog park, detached garages, cyber café, electric car charging station, theater room, outdoor fireplace and verandas, summer kitchen. A clubhouse will offer a party room, business center and fitness center.
Photo credits: Windermere Cay