A hybrid multifamily, build-to-rent development is moving forward in Jacksonville. Commercial Edge reports Ceiba Groupe secured a $40.2 million construction loan for Royal Palms Main Street, a 227-unit project located at 15275 N. Main St. Crestline Investors provided the debt in a deal arranged by JLL Capital Markets. Completion is slated for early 2027.
The community will consist of 168 one— and two-bedroom multifamily apartments and 59 townhome BTR units with three— and four-bedroom layouts. Amenities will include a clubhouse, a swimming pool, a gym, a clubroom, a dog park, a pet spa, a children’s playground and climate-controlled storage units.
Ceiba Groupe was represented by JLL’s Chris Drew, Brian Gaswirth, Kenny Cutler and Justin Ratcliffe in the debt acquisition…