Madison Realty Capital Provides $30 Million Inventory Loan for Two Luxury Condominiums at Metropica in Sunrise, FL

 

Melissa Rose

 NEW YORK, NY –– Madison Realty Capital, a fully integrated real estate private equity firm focused on debt and equity investment strategies, announced it has provided a $30 million first mortgage loan to Metropica Development for a luxury condominium tower and a ten-acre development site, which includes plans to develop a second 250-unit multifamily tower.

 The portfolio is part of Metropica, a four million-square-foot master planned community comprised of luxury residences, modern office towers and high-end retail offerings located in Sunrise, Florida.

Joseph Kavana

 Melissa Rose of JLL Capital Markets arranged the financing from Madison Realty Capital.

 Metropica Development, led by Joseph Kavana, began construction of the first 263-unit luxury condominium tower in 2017 and has sold 174 units to date.

 Madison’s loan will be used to support 89 units, representing 101,989 square feet on the upper floors of the first condominium tower as well as the adjacent 250-unit second condominium tower.

Josh Zegen

 In addition to the first tower, the Metropica master planned development will include 500 multifamily units, 550,000 square feet of commercial space for luxury retail, dining and entertainment destinations as well as 246 hotel keys.

 “We are pleased to deliver a customized and flexible financing solution for the remaining condo inventory in the Metropica Development,” said Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital.

Metropica Tower One, Sunrise, FL

 “Madison’s ability to finance residential projects through every stage of development was highly attractive to Metropica, an experienced local development firm, and we look forward to working with Joseph and his team to support this unique and ambitious project.”

 Located at 2000 Metropica Way, adjacent to the Sawgrass Mills shopping mall and BB&T Center, the 28-story Metropica Tower offers luxury residences with an average of 1,034 square feet, top-of-the-line finishes and high-concept designs from Oppenheim Architecture and YOO Studio.

 The tower’s resort-style amenities consist of a saltwater swimming pool, lounges, movie theater, fitness center, massage and yoga centers, and a children’s playroom.

 CONTACTS:

Kristen Murphy

Senior Manager, Public Relations, Investor Services

JLL

One Post Office Square, Suite 3500

Boston, MA 02109

T +1 617 848 1572

M +1 617 543 4873

Kristen.Murphy@am.jll.com

            and

 Nathaniel Garnick/Grace Cartwright

Gasthalter & Co.

(212) 257-4170

madisonrealty@gasthalter.com

 Also see Madison Realty on LinkedIn and visit www.madisonrealtycapital.com.

 

M/I Homes to Build 55 Homes in Winter Garden’s Tilden Place

 

Grand Series in Tilden Place at Winter Garden, FL

WINTER GARDEN, FL – M/I Homes started developing 55 homesites in Tilden Place at Winter Garden, a gated community situated between Winter Garden Vineland Road and County Road 429.

As one of the last home-buying opportunities on Tilden Road , sales of new construction  homes on sites with pond views and those backing to private conservation area will begin in June, according to David Byrnes, M/I Homes’ Area President. 

“We’re building two distinct product lines in Tilden Place at Winter Garden, with prices from the mid $400,000s to high $700,000s,” Byrnes said.

Grand Series in Winter Garden’s Tilden Place
priced from the mid $400,000s to high $700,000s

“We offer spacious, flexible floorplans, as well as numerous decor options and exterior features. And, we provide peace of mind in the form of a 15-year transferable structural warranty.”

M/I Homes’ Grand Series – built on 80-foot wide homesites – will allow homebuyers to choose from seven floor plans that range from 2,818 to more 4,500 square feet and boast from three to six bedrooms, three to five baths and either three- or four-car garages.

David Byrnes

The Eco Series will feature six different floor plans – which start at 1,857 square feet – that are comprised of three to five bedrooms, two to four baths and both two- and three-car tandem garages constructed on 50-foot-wide lots.

Many of M/I Homes’ single-level floor plans offer optional bonus rooms, and homebuyers can choose to have the owner’s suite either up or downstairs in some two-story plans, Byrnes said. “Or, you can build your dream home with two full owners’ suites.”

“The architectural style here is a combination of craftsman and traditional Florida design,” Byrnes said, adding that multiple elevations offer front porches, and spacious lanais and balconies. 

  CONTACTS:

Beth Payan

Larry Vershel Communications Inc

2433 Lee Road

Winter Park, FL 32789

407-644 4142 (main)

407-461 3781 (cell)

 

 David Byrnes

 area president,

M/I Homes,

 407-531-5100 

 

www.mihomes.com