Princeton Developer Obtains Financing for Phase III of 374-Unit Rental Community
Aconcagua Group obtained a $35 million construction loan for the third and final phase of development for Casa Princeton, a multifamily residential community located at 12867 SW 248th Street in Princeton, Florida. S3 Capital provided the loan. Berkadia arranged the financing with a team led by Charles Foschini and Christopher Apone. T&G Constructors, the general contractor for Phases I and II, will continue in the same role for Phase III.
Casa Princeton Phase III will comprise a 162-unit eight-story building and a two-story structured parking garage, bringing the overall community to a total of 374-units. The development will offer one- and two-bedroom apartments and expand the community’s shared amenity package, which includes a clubhouse and event space, co-working areas, a swimming pool, fitness center, playground, dog park and landscaped outdoor areas.
The first two phases of Casa Princeton total 212 units. Phase I has been delivered and stabilized, and Phase II was delivered in March 2026 and is currently approximately 40% leased.
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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