JLL Capital Markets announced today that it has arranged $59.6 million in construction financing to build Lynwind at Championsgate, a luxury mid-rise apartment development located in Orlando, Florida’s bustling southern submarket of Davenport.
JLL worked on behalf of the borrower, The Latigo Group, to secure a structured loan through a private real estate investment firm and a regional bank. Construction is planned to begin immediately and complete in May 2022.
Lynwind at Championsgate will consist of 384 one-, two- and three-bedroom apartments boasting high-end finishes. The property will comprise six four-story buildings and offer 661 parking spaces for residents. The apartments will also offer best-in-class community amenities including a clubhouse, crystalline pool with cabanas, fitness center, yoga studio and dog spa.
Located at Town Center Blvd. and Grey Heron Blvd., Lynwind at Championsgate is within 20 minutes of Orlando’s largest employers, with the population anticipated to grow 20% in the next five years. Nearby, residents have access to Walt Disney World and Universal Studios, among other shopping, dining, entertainment, hospitality and golf options, including the Reunion Resort & Golf Club, Omni Orlando Resort at Championsgate, Encore Club and three Publix supermarkets within just a few miles of the property. Lynwind at Championsgate is also proximate to major roadways such as I-4, SR 429, SR 417 and the Turnpike for regional connectivity.
The JLL Capital Markets team representing the borrower was led by Director Bercut Smith, Senior Managing Director Charles Halladay, Senior Director Tarik Bateh and Associates Jonah Aelyon and Jen Swanson.
Smith said, “Despite the current environment, The Latigo Group’s hands-on approach of identifying quality sites to develop the best product available in the market was well received by the lending community. JLL was pleased to have a role in introducing The Latigo Group to new lending relationships.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
About The Latigo Group
Founded in 2017, The Latigo Group is a privately-owned Los Angeles-based real estate investment and development firm which specializes in the ownership and development of conventional multifamily, mixed use and student housing properties throughout the United States, with a primary focus on Florida and California. Including Lynwind, TLG currently has over 1000 units under construction with another 1000 units slated to begin construction in 2021. TLG also acquires stabilized multifamily properties suitable for value-add strategies, where the underlying properties feature below market rents in strong markets where modest renovations can translate into significant rental increases. TLG pursues assets and developments in established communities with proven long-term demand drivers. Their investment strategy is to acquire, entitle, and build dynamic developments that enrich the landscape of existing communities, while utilizing modern and transformative designs that incorporate green building practices and feature sustainable materials.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
