News Summary
JLL Capital Markets has secured a €26 million construction loan for Magnolia at Powell, a 132-unit residential community in Wildwood, Florida. The loan, structured over three years, will support the community’s transition to full leasing. With amenities like a resort-style pool and fitness center, Magnolia at Powell caters to diverse residents with one, two, and three-bedroom options. Currently, it is 40 percent occupied, and rental rates start at $1,350 for a one-bedroom unit. The financial backing positions the community for growth and sustainability.
JLL Capital Markets Secures $26 Million Loan for Magnolia at Powell in Wildwood
JLL Capital Markets has successfully arranged a €26 million construction take-out bridge loan for the Magnolia at Powell residential community located in Wildwood, Florida. This newly constructed, 132-unit build-to-rent community is poised to enhance the housing options available in the area, approximately 50 miles northeast of Orlando.
The floating-rate loan is structured over a three-year period and was managed by JLL’s Debt Advisory team, which includes experts in the field. The financial backing for this project comes from a domestic investment management firm, along with its international mezzanine debt partner. This partnership positions Magnolia at Powell to thrive financially as it transitions to full leasing and operational status.
Details of the Community and Its Offerings
Magnolia at Powell, completed in January 2025, features various housing options designed to cater to diverse age groups. Prospective residents can choose from one-, two-, and three-bedroom townhomes, with an average size of 1,162 square feet. Currently, the community is 40 percent occupied, indicating a steady interest in the available units.
In addition to its residential units, Magnolia at Powell provides several amenities tailored to promote a healthy and engaging lifestyle. Residents can enjoy a resort-style swimming pool, a fully equipped fitness center, a pickleball court for recreational activities, and a dedicated dog park for pet owners. This blend of convenience and luxury is designed to attract a wide range of tenants looking for comfortable living arrangements in a growing community.
Rental Rates and Financial Implications
Monthly rental rates for a one-bedroom townhome at Magnolia at Powell start at $1,350, as reported by local rental listings. This pricing strategy aligns with current market values in the region, promoting affordability while serving the needs of residents.
By utilizing the recently secured loan, Magnolia at Powell aims to achieve financial success as it works towards being fully leased. The loan not only provides necessary funds for ongoing operational needs but also enhances the community’s ability to attract more tenants, ensuring a vibrant and sustainable living environment.
Background on JLL Capital Markets
JLL Capital Markets is renowned as a leading provider of capital solutions for real estate investors and tenants, boasting a global team of over 3,000 specialists. Their expertise in arranging financial arrangements such as this bridge loan facilitates the development of residential communities like Magnolia at Powell, contributing to the overall growth and vitality of the real estate market.
As the Magnolia at Powell community gains traction, the impact of the $26 million loan is anticipated to be significant, fostering a successful living space that aligns with the needs of its residents and the aspirations of its developers.
Deeper Dive: News & Info About This Topic
Additional Resources
- Rebusiness Online: JLL Capital Markets Secures $26 Million Loan for Magnolia at Powell
- JLL Newsroom: New Construction Sale of Luxury Multifamily Complex, Florida
- US News: The Fastest Growing Places in the US
- WESH: Immigration Arrests in The Villages
- Google Search: Real Estate Communities in Florida
