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BLD Group and JSB Capital Refinance
Update
07/27/23
BLD Group and JSB Capital Secure $156.5 Million to Refinance High-Quality Multifamily Properties
A joint venture between BLD Group and JSB Capital Group today announced that it has refinanced a portfolio of three Class A multifamily properties in Florida.
Two of the properties — the 308-unit V2 Apartments in Fort Myers, and the 220-unit Sunnyside Apartments in Panama City Beach — are in lease-up, while the third — the 336-unit Sundance Trails Apartments in Wildwood — has nearly completed construction.
Each of the communities features contemporary layouts with luxurious finishes, including stainless steel appliances and granite countertops, as well as property amenities that include state-of-the-art clubhouses, business centers, fitness centers, resort-style pools with grilling and sun decks, common area Wi-Fi and electric car outlets.
Eastdil Secured advised the joint venture on the financing, and a vehicle sub-advised by Rialto Capital Management originated the $156.5 million, five-year, floating rate loan that closed on July 14, 2023.
