Miami, November 12, 2020 Linkvest Capital development affiliate, LV Development, is pleased to announce the closing of a $52.5 million in financing for the construction of Futura at Nona Cove, a luxury AAA five-story, 260-unit rental community located at 19463 Boggy Creek Road in Lake Nona, considered the Medical City of Orlando. This project will be developed in partnership with FUTURA.
Berkadia Commercial Mortgage LLC arranged the financing from the United States Department of Housing and Urban Development (HUD). The loan closed on November 5th and construction has begun. We plan to start leasing the Futura at Nona Cove apartment homes by November 2021 and construction is slated for completion Q3 2022.
Linkvest Capital and its co-investors are the majority equity partners with 80% of the total equity of the project. Our private lending affiliate, LV Lending, also provided a $3.5 million land loan to FUTURA for the adjoining commercial parcels in July 2017.
The Futura at Nona Cove luxury apartment community is strategically situated at the intersection of Narcoossee and Boggy Creek Roads and features a full resort lifestyle amenity package reinforced by its coastal contemporary architecture.
|About the project|
Futura at Nona Cove will offer studios, one, two and three-bedroom units ranging in size from 623 to 1,315 square feet with strategically designed den spaces that offer more home-office options. Apartments will feature nine-foot ceilings with top penthouse units boasting 10 to 12-foot ceilings, modern bathrooms and kitchens with energy-efficient stainless steel appliances, full-size washers and dryers, oversized balconies, private patios and large walk-in closets.
|Residents will enjoy an all-inclusive package of modern amenities, including a two-story clubroom connected to a resident lounge and co-working areas; oversized resort-style and lap pool; state-of-the-art wellness and fitness center, a community dog spa and linear park with sitting gazebos for residents to congregate while their pets play.|
|The multi-family component represents the first phase of a mixed-use development, located on approximately 17 acres in the dynamically growing Lake Nona luxury real estate submarket. This boosting economy was founded by Tavistock Group’s long-term visionary ability to establish a nationally recognized 21st-century master-planned community, accentuated by prominent medical facilities integrated with bio-science research and upper education centers, designed to create what is now known as the Medical City of Orlando.|
|About Linkvest Capital|
Linkvest Capital LLC is a US-based co-investment platform for family offices, institutions and private investors. As a vertically integrated real estate firm, Linkvest Capital includes financing, acquisition and development entities.
LV Development, co-invests with real estate developers on multifamily and mixed-use projects in Florida, and has invested in 8 multifamily projects with over 2,000 apartments to be delivered between 2020 and 2022.
LV Lending, the private financing affiliate, focuses on real estate business and investment mortgage loans on residential and commercial properties. The company has a current portfolio of $240 million and has serviced more than 500 transactions for over $450 million in Florida and Georgia.
Linkvest Properties, focuses on commercial acquisitions in the southeast United States region and operates a portfolio of over $35 million.
FUTURA is a South Florida-based private real estate investment company dedicated to the acquisition, repositioning and development of financially sustainable mixed-use centers.
The company was fully established in October 2008 and to date has developed and redeveloped nearly 30 residential, commercial and/or mixed-use communities with a real estate portfolio valued in excess of US$1 billion. For more information, visit www.futuracompany.com.