Agador Spartacus Inks $58.5M Loan to Build Two Deltona BTR Communities
Agador Spartacus closed on a $58.5 million construction loan for two build-to-rent communities in Deltona, Florida. Anchor Loans provided the loan.
The financings include approximately $30.2 million for Magnolia Cottages at Deltona, a 153-home community, and $28.3 million for Magnolia Villas at Deltona, a 126-home community. Located on adjacent parcels, the projects will add a combined 279 rental homes, including a mix of cottages, duplexes and townhomes. Both communities are planned with dog parks and clubhouse amenities.
Located between Orlando and Daytona Beach, the communities offer convenient access to major employment centers across Central Florida, including the nearby Howland Job Zone, home to healthcare, logistics and retail employers.
Anchor has previously financed Agador projects including Magnolia at Lake Hamilton, a $35.4 million multifamily financing in Winter Haven, and Lake Ella Estates, a $36.8 million financing for a 132-home build-to-rent community in Lady Lake.
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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