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BTR Daily - February 26, 2025 - JLL secures $44.3 million bridge loan

JLL secures $44.3 million. LMS acquires land. Center Park Group delivers first units. CushWake sells 120 units. Capital will flow into BTR in 2025. Two new BTR deals.

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Matt H & Aid Sopjani
February 26, 2025

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NEWS ROUNDUP

FINANCING: JLL secures $44.3 million bridge loan. JLL has arranged $44.3 million in bridge financing to take-out a construction loan on a 265-unit BTR community in Jacksonville, FL. JLL’s Max La Cava, Melissa Marcolini Quinn, Kenny Cutler, Robert Rothaug, Pier Barinci, and Jade Starkey arranged the loan.

DEVELOPMENT: LMS closes on land for 365-unit BTR. LMS has acquired the land for a BTR project in Richmond Hill, FL. The community will feature 365 Class A units and is scheduled to break ground in Q1 2025.

DEVELOPMENT: Center Park Group delivers first units at South Carolina BTR. Center Park Group has delivered the first tranche of townhomes at Sanderling, a 56-unit BTR community in Johns Island, SC. The project is being managed by Atlanta-based RangeWater on behalf of Equus Development Partners and Circle Squared Alternative Investments. The entire development is expected to be completed by March, bringing two- and three-bedroom townhomes with one-car garages and front porches to the Johns Island rental market.

DISPOSITION: Cushman & Wakefield sells 120 units. CushWake has sold Martin Square, a 120-unit BTR community in Tennessee. John Propst, Tyler Mayo, Parker Caldwell, and Jaime Slocumb of CushWake handled the transaction.

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BTR FOR SALE

Click each image for more information:

Allure on Enterprise | 2841 Enterprise Road, DeBary, FL 32713

130 Units | Built in 2023 | 98% Occupancy

Lowry Row Homes | 2407 2nd St NE, Minneapolis, MN 55418

10 Units | Built in 2019

ONE MORE THING

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