ORLANDO, FL – January 29, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $60 million construction loan for Lake House, a luxury, waterfront, high-rise apartment community to be developed in the heart of Orlando’s Ivanhoe Village.
HFF worked exclusively on behalf of the developer, a partnership between Sumitomo Corporation of Americas, FINFROCK and OneEleven Residential, to arrange the floating-rate construction loan.
Slated for completion in 2020, Lake House will feature 252 luxury apartment and townhome units in a variety of studio, one-, two- and three-bedroom floor plans averaging 972 square feet along with more than 36,000 square feet of ground-level commercial space and structured parking. The nine-story project will be located at 301 NE Ivanhoe Boulevard along the shores of Lake Ivanhoe, which will offer residents unmatched waterfront and city views and will allow for immediate accessibility to some of the region’s largest employment centers, including Downtown Orlando, Florida Hospital’s Health Village Campus and the Orlando Regional Medical Center.
The HFF debt placement team representing the borrower included senior director Brett Moss, senior managing director Michael Weinberg and analysts Tyler Swidler and Alec Fox.
“The marketing process was extremely competitive given the infill, waterfront location in the heart of the highly desirable Ivanhoe Village neighborhood,” Moss said. “Furthermore, investors and lenders alike have taken note of the continued strong multi-housing fundamentals being fueled by Orlando’s nation-leading job growth and population growth figures.”
“The architectural design of the community was greatly enhanced by thoughtful input provided by various neighborhood associations,” noted OneEleven Residential’s John Zeledon. “I’ve been an active multifamily developer for about 25 years and working with members of the neighborhood associations was one of the most rewarding and beneficial experiences of my career.”
HFF has arranged financing for several multi-housing deals in Downtown Orlando during the past 18 months, including Radius Apartments, Paramount on Lake Eola and the mixed-use, student housing community at UCF’s urban campus at Creative Village.