Lloyd Jones Capital got a $38.2 million loan to finance its acquisition of the 397-unit apartment complex

Miami-based Lloyd Jones Capital bought a 397-unit apartment complex in Fort Myers for $55 million, or about $138,000 per unit.
Lloyd Jones financed its acquisition of the apartment complex with a $38.2 million loan secured by the South Florida office of Berkadia Proprietary Holding LLC.

Lloyd Jones got the fixed-rate, 10-year loan though Freddie Mac’s “Green Up” program, which requires borrowers to commit to such property-improvement initiatives as a reduction in water consumption.

The Miami-based private equity firm acquired a rental housing property called The Fountains at Foresthead, which opened in 1985 and has a swimming pool, a 25-hour gym, jogging trails along a lake and a car wash center.

The apartment complex’s address at 1734 Brantley Road in Fort Myersis near Interstate 75 and Florida Southwestern State College.
Lloyd Jones now owns 25 rental housing properties across Florida including the 120-room Granite at Miami Beach, the 432-unit Vibe at Gateway in St. Petersburg, and the 160-unit Meetinghouse at Collins Cove in Jacksonville. [Business Observer] – Mike Seemuth

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The Lloyd Jones Capital team had a great time networking with other investment firms and more importantly, investors from around the world, at Opal Group’s 2016 Real Estate Investors Summit. Our firm had a booth where we connected with investors and shared our strategies in regards to real estate investing, previous deals and the types of returns we have achieved for our clients.

In addition to the networking and social events, our Chairman and CEO, Chris Finlay, was asked to speak on a panel on the first day of the summit about investment strategies and styles. During this panel, Dean Crombie, the moderator and Senior Trustee at New Hampshire Retirement System, asked a lot of good questions about the real estate market. Some of the questions included: Where are we in the real estate cycle? What types of multifamily strategies are investment firms using? In what state is multifamily real estate booming?

A few keynotes our CEO mentioned on the panel:
– The key to real estate investing is good management and not over leveraging.
– Class C real estate is the last to be affected by a recession and the first to rebound, providing low risk.
– While the oil bust is hurting some areas in Texas, many other parts, including Houston, are thriving with an influx of new residents, who all need places to live.
– South Carolina is a state that Lloyd Jones Capital focuses on because of the thriving job growth and population growth. These are indicators that rental demand will be high.
– Many different demographics are choosing to rent and there is a lot of new data proving Millennials are driving this trend. This movement is another positive indicator for the multifamily real estate market.
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Miami, Fla. – Lloyd Jones Capital, a private equity multifamily real estate firm, has opened an office in Orlando to cover the Orlando/Central Florida market at 941 West Morse Blvd., Winter Park, Fla. 32789. This is the firm’s fifth Florida office. In addition to the Miami headquarters, locations now include Weston/Ft. Lauderdale, Tampa, Orlando and Jacksonville.

With additional offices in Dallas and Houston, Chris Finlay, Chairman and CEO, explains the importance of multiple offices: “Real estate is local. Good deals are hard to find, so we have ‘boots on the ground’ in all our major markets. This way, we are positioned to find the very best investment opportunities for our investors.”

The Orlando office will be directed by Stephen Selby, Vice-President of Investments. A long-time resident of Orlando, Selby has extensive experience in the real estate private equity field and will be responsible for identifying, acquiring and underwriting investment opportunities.

ABOUT LLOYD JONES CAPITAL
Lloyd Jones Capital is a private equity real estate firm that specializes in the multifamily sector. With 35 years of experience in the real estate industry, the firm acquires, improves and operates multifamily real estate in growth markets throughout Texas, Florida and the Southeast.

Lloyd Jones Capital provides a fully integrated investment/operations platform. Its property management arm partners with the investment team to provide unparalleled local expertise in each of its markets. Headquartered in Miami, the firm has offices throughout Texas and Florida. The firm’s investors include institutional partners, private investors and company principals. For more information visit lloydjones.wpengine.com.

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