EXECUTIVE SUMMARY
Berkadia is pleased to exclusively present the opportunity to forward purchase Reunion Crossing (the “Property”), a to-be-developed 146-unit, Class A build-to-rent (BTR) townhome community by D.R. Horton, the nation’s largest homebuilder. Conveniently situated directly off the SR-429 (Orlando’s Western Beltway) near the Interstate 4 interchange, the Property enjoys access to over half a million jobs in under 30 minutes and will become the closest BTR community to Walt Disney World, the nation’s largest single-site employer (75,000 employees) & No. 1 tourist attraction in the nation. As a forward sale, investors are presented with the opportunity to acquire this highly differentiated asset in one of the strongest growth markets in the U.S. at a discount to stabilized value. It is anticipated that the closing of the transaction will take place in several phases as buildings are delivered. Closing will be subject to each building being completed per plans and specs, and receipt of required certificates of occupancy.
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
MATT MITCHELL
Senior Managing Director
813.217.3419
matt.mitchell@berkadia.com
Patrick Coley
Senior Financial Analyst
407-481-2187 patrick.coley@berkadia.com
BRETT MOSS
Managing Director
321.319.1414
brett.moss@berkadia.com
TYLER SWIDLER
Director
321.319.1415
tyler.swidler@berkadia.com
BAILEY SMITH
Associate
813.675.0121
bailey.smith@berkadia.com
Investment Sales
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Investment Highlights
Brand-new, detached single-family BTR community by America's largest homebuilder, D.R. Horton
Compelling Lease-Up Trends: Avg. 10 leases/mo. since Jan-24, 3% rent growth on recent leases
Prime "Path of Growth" Location, Adjacent to The Villages: The nation's No. 1 fastest-growing MSA in 2023 & largest 55+ master plan
Limited Competing Supply: Only 2 market-rate rental communities under construction or in lease-up within 10 miles
Well-Heeled Resident Demographics: $127K avg. HH income (on-site) with high concentration of healthcare / medical professionals
Strong Orlando MSA SFR/BTR Fundamentals: 4.8% rent growth YoY (as of Feb-24), No. 2 MSA for proj. rent growth in 2024 by JBREC
Property Features
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ORLANDO
300 South Orange Avenue
Suite 1325
Orlando, FL 32801
P. 407.481.9920
F. 407.481.0757
TAMPA
4890 West Kennedy Boulevard
Suite 940
Tampa, FL 33609
P. 813.675.0469
A BRAND-NEW, DETACHED SINGLE-FAMILY HOME BTR COMMUNITY BY AMERICA’S LARGEST HOMEBUILDER, D.R. HORTON
31909 Katelin Circle | Leesburg, FL | Orlando MSA
6
100
HOMES
68%
Leased (as of 05/02/2024)
$2,370
LEASED RENT
$1.25
lEASED Rent PSF
1,896
Avg. SF
pHOTO GALLERY
Lake Griffin Reserve
2024
YOC
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