EMBREY Snags Construction Loan for Lake Nona Apartments
PCCP provided a $66 million senior construction loan to EMBREY for the development of Boggy Creek, a 300-unit, three-story, garden-style apartment community located within Lake Nona, a neighborhood of Orlando, FL. The project is situated on 13.3 acres at 3200 Post Oak Circle in Kissimmee, FL.
EMBREY’s Boggy Creek is planned for amenities including screened balconies, a swimming pool, clubhouse, fitness center, and detached garages available for rent. EMBREY has developed over 2,000 units across the MSA.
Boggy Creek sits within the high-growth Orlando suburb of Lake Nona, which has experienced more than 30% cumulative population growth since 2020 with another 12% projected within five miles of the project by 2030.
Boggy Creek represents EMBREY’s sixth development in Orlando, accounting for over 2,000 units. And it’s the 16th overall in Florida since its first entry into the state in the 1980s.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout