Sovereign Properties and Invest Capital Group have successfully secured refinancing for a 360-unit apartment community in Davenport, Florida. The loan, totaling $69.6 million, was obtained through Timbercreek Capital and consists of a two-year floating-rate bridge loan.
The Atlantica at Town Center – Phase I was completed in December 2022 and is comprised of 14 residential buildings spanning three to four stories. The units range from one to three bedrooms with sizes ranging from 683 square feet to 1,435 square feet – making them some of the largest units available in the area. This garden-style community offers residents an array of amenities including a pool, gaming lawn, dog park, pet spa, fitness center with yoga and spin rooms as well as a demonstration kitchen and coworking space.
Conveniently located at1121 Loblolly Lane,the Atlantica at Town Center provides easy access to various cultural and entertainment destinations such as Posner Park,Downtown Orlando,andOrlando International Airport.Additionally,it is less than15 miles awayfrom popular attractions like Walt Disney Worldand Universal Studios.
Leading the JLL Debt Advisory team responsible for this successful transaction were Gregory Nalbandian,Kenny Cutler,and Josh Odessky.Their expertise helped secure this significant refinance deal for the investor group involved.
