The Latigo Group received a $ 59.6 million loan for Lynwind’s development at Championsgate, an upscale community of 384 units in the town of Davenport, in the Orlando, Florida area. First Horizon Bank and Meta Real Estate Partners have launched two separate financing packages, according to Polk County Records.
The developer paid $ 5.2 million to acquire the land in May 2019, according to public records. The company will begin construction immediately and plans to finalize the project in May 2022. ACi Architects designed the property, which will consist of six four-story buildings with 661 parking spaces. The amenity package will include a swimming pool, clubhouse, gym, yoga studio and pet spa.
The property will take shape on a 28-acre parcel at the southeast corner of Town Center and Gray Heron boulevards. The site is 28 miles southwest of downtown Orlando, 21 miles southwest of Universal Studios, and 9 miles south of Walt Disney World. Additionally, the site is 3 miles east of Interstate 4.
The JLL brokerage team that traded on behalf of the borrower includes Director Bercut Smith, Senior Managing Director Charles Halladay, Senior Managing Director Tarik Bateh, and Partners Jonah Aelyon and Jen Swanson.
Last April, The Latigo Group secured a $ 59 million development loan for a 142-unit community in Thousand Oaks, California. Dekel Capital organized the finance package for a listed life insurance company and REIT.