Upscale Orlando Project Receives $60M Loan
- Jan 06, 2021
The Latigo Group has received a $59.6 million loan for the development of Lynwind at Championsgate, an upscale, 384-unit community in the Orlando-area town of Davenport, Fla. First Horizon Bank and Meta Real Estate Partners originated two separate financing packages, according to Polk County records.
The developer paid $5.2 million to acquire the land in May 2019, public records show. The company will begin construction immediately and expects to finalize the project in May 2022. ACi Architects designed the property, which will encompass six four-story buildings with 661 parking spaces. The amenity package will include a swimming pool, clubhouse, gym, yoga studio and pet spa.
The property will take shape on a 28-acre parcel at the SE corner of Town Center and Grey Heron boulevards. The site is 28 miles southwest of downtown Orlando, 21 miles southwest of Universal Studios and 9 miles south of Walt Disney World. Additionally, the site is 3 miles east of Interstate 4.
The JLL brokerage team that negotiated on behalf of the borrower includes Director Bercut Smith, Senior Managing Director Charles Halladay, Senior Director Tarik Bateh and Associates Jonah Aelyon and Jen Swanson.
Last April, The Latigo Group landed a $59 million development loan for a 142-unit community in Thousand Oaks, Calif. Dekel Capital arranged the financing package from a life insurance company and a publicly traded REIT.