Aconcagua Group has secured a $35 million construction loan to complete the third and final phase of Casa Princeton, a multifamily rental community in Princeton, Florida. The financing supports continued build-out at 12867 SW 248th Street, where the developer is advancing a multi-phase residential plan. The new capital will fund Phase III of the project and follows earlier stages that have already brought more than 200 units to market.
S3 Capital provided the construction financing for Phase III. Berkadia arranged the loan, with a team led by Charles Foschini and Christopher Apone. The general contractor, T&G Constructors, which handled construction for Phases I and II of Casa Princeton, will remain in place for the final phase of the development.
Phase III of Casa Princeton is planned as a 162-unit, eight-story multifamily building supported by a two-story structured parking garage. Upon completion of this phase, the overall community will total 374 rental units. The unit mix for the community consists of one- and two-bedroom apartments, aimed at renters seeking modern multifamily housing options within Princeton.
The latest phase will also expand the community’s shared amenity package. Amenities at Casa Princeton include a clubhouse with event space, co-working areas, a swimming pool, fitness center, playground, dog park and landscaped outdoor areas. The additional phase is expected to enhance the usability and scale of these common areas for current and future residents.
Earlier stages of the project are already at different points in their lease-up cycle. Phases I and II together account for 212 units. Phase I has been delivered and is now stabilized, indicating that it has reached a steady occupancy level. Phase II was delivered in March 2026 and is reported to be approximately 40% leased, reflecting ongoing absorption as the property moves toward stabilization.
With the new construction loan in place, Aconcagua Group is positioned to complete Casa Princeton as a 374-unit multifamily community, building on leasing progress at the initial phases and adding new residential capacity and amenities in Princeton.
