CHAMPIONSGATE, Fla. — JLL Capital Markets has arranged $37.8 million in financing for The Glades at ChampionsGate, a luxury 223-unit senior living community in the Orlando suburb of ChampionsGate.
JLL worked on behalf of the borrower, Fortress Investment Group, to secure the four-year, floating-rate, non-recourse loan through MidCap Financial Services.
The Glades at ChampionsGate offers independent living, assisted living and memory care units. The property consists of one- and two-bedroom units ranging from 627 to 1,060 square feet.
The property is located on 11.6 acres within the 1,500-acre master-planned community of ChampionsGate, which is home to the Omni Resort, high-end golf courses and numerous retail and dining venues. The Glades at ChampionsGate is situated roughly 20 miles southeast of Orlando and 60 miles northeast of Tampa.
The community benefits from the growth in population the Orlando MSA has seen in recent years, with a 5 to 6 percent annual growth rate projected through 2027 for all cohorts, along with 12.5 percent annual growth for the 75+ population.
The JLL Capital Markets team representing the borrower was led by Alanna Ellis, Allison Holland, Billy Lichtenstein and Zach Brantley.