JLL Capital Markets announced 43.9 million in permanent financing for the G3 Multifamily Portfolio, a three-property, 330-unit multifamily development in Gainesville, Florida.
JLL worked on behalf of the borrower, American Commercial Realty Corp. (ACR), to secure a five-year, fixed-rate Fannie Mae loan. The loan will be serviced by Jones Lang LaSalle Multifamily, LLC, a Fannie Mae DUS lender.
The G3 Multifamily Portfolio comprises three distinctive garden-style apartment communities:
- Mirabella, a 146-unit property at 720 SW 34th Street featuring two-story buildings with an average unit size of 994 square feet;
- Camelot Apartments, a 128-unit development at 3425 SW 2nd Avenue with two-story construction and 888 square feet per unit on average; and
- Hammocks at Camelot, a 56-unit single-story community at 328 SW 34th Street with an average unit size of 550 square feet located adjacent to Camelot.
The properties benefit from premium positioning just over one mile from the University of Florida campus, which enrolls approximately 69,000 students and ranks as the fourth-best public university according to Forbes 2024 rankings. The portfolio sits on the west side of 34th Street, a major thoroughfare carrying 45,000 vehicles daily, and provides residents with walking distance access to a newly constructed Publix supermarket and proximity to major retail destinations, including Butler Plaza and Celebration Pointe…