Done Deals: JLL Capital Markets brokers $160 million construction financing for the 95-unit Caretta oceanside condominium development in Juno Beach, FL, JDL Corp.’s first project in Florida

Wednesday, March 13, 2024

JLL Capital Markets brokers $160 million construction financing for the 95-unit Caretta oceanside condominium development in Juno Beach, FL, JDL Corp.’s first project in Florida

Caretta, a 95-unit, luxury, boutique
condominium development located
in Juno Beach, FL

MIAMI, FL – JLL Capital Markets has closed the $160 million construction financing for Caretta, a 95-unit, luxury, boutique condominium development located in Juno Beach, Florida.

Matthew Lawton,

JLL worked on behalf of the borrower, JDL Development and Wanxiang America Real Estate Group, to secure the loan through Bsafal Inc.

The JLL Capital Markets Debt Advisory team was led by Executive Managing Director Matthew Lawton, Managing Director Brian Gaswirth, Associate Paul Adams and Analyst Shane Ciacci.

"We are thrilled to collaborate with JDL, a highly regarded developer with an impressive portfolio of projects that have left an incredible mark on Chicago's skyline," said Gaswirth. "Their entry into the Juno Beach condo market presents a tremendous opportunity for them to create a similar legacy in South Florida."

Brian Gaswirth

With an anticipated completion of 2025, Caretta will offer 95 expansive two-, three- and four-bedroom units, averaging 3,137 square feet.

Designed by Hartshorne Plunkard Architecture, Caretta will feature elegant finishes, 10-foot ceilings, European oak wood floors, quartzite countertops and large terraces, and select ground-floor units will offer private lawns and pools.

Additionally, eastern facing, upper floor units will have expansive ocean views given the low-rise nature of the properties to the east.

Community amenities will include a rooftop deck with an infinity edge pool, a fitness center, a sauna, a catering kitchen, a card room, a wine storage room and lounges, in addition to a dog park, bike storage, a 24/7 concierge, dedicated beach service and more.

Paul Adams

The property will also feature ground-floor retailers and a restaurant, offering residents exceptional amenities to enjoy while creating an urban atmosphere.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.