Construction will soon commence on a 341-unit luxury multifamily community dubbed Atlantica at Daytona in Daytona Beach, Florida. Sovereign Properties partnered with Invest Capital Group to develop the residential property. Recently, the joint venture partners secured a $77 million construction financing loan for the development.
Broadshore Capital Partners provided the three-year 75 per cent LTV loan for the Atlantica at Daytona project. However, it was JLL‘s Capital Markets Debt Advisory team who secured the funds on behalf of the borrowers. The team included Senior Managing Director Gregory Nalbandian, Senior Director Jesse Wright and Associate Joshua Odessky.
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The Atlantica at Daytona development will take place at 1799 North Williamson Boulevard in the North Daytona Beach submarket. Therefore, its location provides access to Interstate 95, a major gateway corridor that connects directly to Jacksonville, Orlando and Miami. Future residents will also have access to the numerous dining, retail and entertainment venues within the vicinity. Additionally, the community sits just 5 miles away from Daytona International Airport, Volusia Mail and Advent Health Daytona Beach.
Development plans for the Atlantica at Daytona project
Atlantica at Daytona will be a garden-style community with 341 apartments spread across seven buildings. The units on the property will include a mix of one, two and three bedrooms, averaging 981 square feet. The interior of these units will be furnished with modern kitchens, stainless steel appliances, and quartz countertops. In addition, the interior design also features wood-style vinyl plank flooring and white shaker cabinets with matte black finishes.
Atlantica at Daytona Residents will enjoy access to a resort-style pool, BBQ grill station, and a screened lanai with a fireplace. The community also includes expansive screened patios and balconies. Additionally, residents will have access to shared amenities such as an outdoor summer kitchen, a co-working space, and a game room. Other facilities featured on the property include a bar, a dog park, a high-tech fitness centre, and so much more. The developer expects the first units to open by October 2024.
