MIAMI, March 11, 2024 - JLL Capital Markets announced today that it closed the $160 million construction financing for Caretta, a 95-unit, luxury, boutique condominium development located in Juno Beach, Florida.
JLL worked on behalf of the borrower, JDL Development and Wanxiang America Real Estate Group, to secure the loan through Bsafal Inc.
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. The property will also feature ground-floor retailers and a restaurant, offering residents exceptional amenities to enjoy while creating an urban atmosphere.
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."
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. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Jones Lang LaSalle Inc. published this content on 11 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 March 2024 20:09:43 UTC.
