JLL Capital Markets has announced that it has arranged a $44 million construction takeout bridge loan for Solamar Wildwood, a 243-unit newly constructed build-to-rent apartment community in Wildwood.
JLL represented the borrower, Grupo Trusot, in securing the floating-rate loan through a $5 billion publicly traded real estate investment trust.
Solamar Wildwood, located at 4734 Silver Star Drive, is strategically positioned adjacent to The Villages and it “offers a premium non-age-restricted housing option.”
Solamar Wildwood offers residents the benefits of single-family living within a purpose-built community. The build-to-rent multifamily development spans 27.85 acres and features 243 units across three two-story buildings, with an average unit size of 1,349 square feet. Units range from one-bedroom apartments at 756 square feet to three-bedroom homes at 1,999 square feet, with many featuring attached garages and semi-private backyards.
JLL Capital Market’s Debt Advisory team was led by Managing Director Max La Cava and Senior Managing Director Melissa Quinn.
JLL originally arranged the construction loan for the project in 2023 and now executed a strategic bridge refinancing that reduced the developer’s cost of capital.
“This transaction exemplifies the full-cycle expertise our JLL Debt Advisory Team brings to development projects,” said La Cava. “From land loans and construction financing through bridge and permanent placement, we partner with our clients to create bespoke capital markets solutions that help achieve their strategic objectives.”