[[{“value”:”
Agador Spartacus has obtained a $58.5 million construction loan to develop two build-to-rent residential communities in Deltona, Florida. The financing, provided by Anchor Loans, will support ground-up construction for a pair of adjacent rental home projects that expand the company’s presence in Central Florida’s single-family rental segment.
The new loan is structured around two separate communities. Approximately $30.2 million of the financing is allocated to Magnolia Cottages at Deltona, planned as a 153-home rental community. The remaining $28.3 million is designated for Magnolia Villas at Deltona, which is planned to deliver 126 rental homes. Together, the two projects will bring 279 new rental residences to the city.
Magnolia Cottages at Deltona and Magnolia Villas at Deltona are being developed on neighboring parcels, creating a concentration of new build-to-rent supply in one location. The communities are expected to feature a mix of cottages, duplexes and townhomes, offering multiple rental home formats within the same overall development area. Planned shared amenities for residents across the properties include dog parks and clubhouse spaces.
The Deltona communities are positioned between Orlando and Daytona Beach, giving residents access to employment across the broader Central Florida region. The projects are also near the Howland Job Zone, which includes employers in healthcare, logistics and retail. That proximity is expected to connect future residents to nearby job centers while still providing rental home living rather than traditional apartment layouts.
The construction loan from Anchor Loans continues an existing lending relationship between the firm and Agador. Anchor has previously financed multiple Agador developments in Florida. Earlier financings include Magnolia at Lake Hamilton in Winter Haven, described as a $35.4 million multifamily financing, and Lake Ella Estates in Lady Lake, backed with a $36.8 million loan for a 132-home build-to-rent community.
With the latest Deltona transaction, Agador adds two more build-to-rent projects to its pipeline, while Anchor Loans extends its track record lending on the sponsor’s multifamily and rental home communities across Central Florida. The combination of cottages, duplexes and townhomes in Magnolia Cottages at Deltona and Magnolia Villas at Deltona is intended to expand the region’s rental housing options as these communities move forward with construction under the new financing.
The post Agador Spartacus Lands $58.5M Construction Loan for Two Deltona Build-to-Rent Communities appeared first on CRE Market Beat.
“}]]
