media contact: hall group orlando – february 8, 2017 – …€¦ · apartments in kissimmee,...

MEDIA CONTACT: Ellen Marsau HALL Group [email protected] (214) 269-9536 or (770) 402-2111 FOR IMMEDIATE RELEASE HALL STRUCTURED FINANCE CLOSES $37.7 MILLION CONSTRUCTION LOAN FOR THE MILLENNIUM AT CITRUS RIDGE APARTMENTS IN KISSIMMEE, FLORIDA ORLANDO – February 8, 2017 – HALL Structured Finance (HSF) announced today that the company has closed a new loan totaling $37.7 million to finance the construction of the Millennium at Citrus Ridge apartments in Kissimmee, Florida, a suburb of Orlando. The project developer is Florida-based DLC Residential. “The Millennium at Citrus Ridge opportunity was a great fit for our company given the strength of sponsorship, attractive location just two miles from Walt Disney World and the proven performance of high quality, suburban apartments in the Orlando market,” said Mike Jaynes, president of HALL Structured Finance. “We believe this project will be very successful and look forward to seeing construction begin.” The Millennium at Citrus Ridge will consist of 326 luxury rental apartment units throughout nine buildings ranging from two to four stories. The units will average approximately 1,000 square feet and will be modern in design with excellent finishes. Amenities at the property will include a clubhouse, resort-style pool, fitness center, conference facility and social lounge. The property is located on the south side of U.S. Highway 192 in Kissimmee, Florida, just two miles from the Walt Disney World Resort and Theme Park complex, and is surrounded by a wide range of retail, dining and entertainment options. “HALL Structured Finance’s expertise in both real estate development and finance made them the ideal partner for this project,” said Russ Krivor, President and CEO of DLC Residential. “Their uniquely-tailored, flexible approach to finance our development made this loan closure possible, and we’re excited to get started.” HALL Structured Finance has now closed six construction loans in Florida, including the Gale Residences in Ft. Lauderdale, which closed in August 2016. DLC Residential has now developed 10 apartment communities throughout Florida, Illinois, Mississippi and Texas. About HALL Structured Finance HALL Structured Finance (HSF) is an entrepreneurial, value-add direct private lender to the real estate industry. We specialize in providing capital for ground up construction, adaptive reuse, and major asset

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Page 1: MEDIA CONTACT: HALL Group ORLANDO – February 8, 2017 – …€¦ · apartments in Kissimmee, Florida, a suburb of Orlando. The project developer is Florida-based DLC Residential

MEDIACONTACT:[email protected](214)269-9536or(770)402-2111

FORIMMEDIATERELEASEHALLSTRUCTUREDFINANCECLOSES$37.7MILLIONCONSTRUCTIONLOANFORTHEMILLENNIUMAT

CITRUSRIDGEAPARTMENTSINKISSIMMEE,FLORIDAORLANDO–February8,2017–HALLStructuredFinance(HSF)announcedtodaythatthecompanyhasclosedanewloantotaling$37.7milliontofinancetheconstructionoftheMillenniumatCitrusRidgeapartmentsinKissimmee,Florida,asuburbofOrlando.TheprojectdeveloperisFlorida-basedDLCResidential.“TheMillenniumatCitrusRidgeopportunitywasagreatfitforourcompanygiventhestrengthofsponsorship,attractivelocationjusttwomilesfromWaltDisneyWorldandtheprovenperformanceofhighquality,suburbanapartmentsintheOrlandomarket,”saidMikeJaynes,presidentofHALLStructuredFinance.“Webelievethisprojectwillbeverysuccessfulandlookforwardtoseeingconstructionbegin.”TheMillenniumatCitrusRidgewillconsistof326luxuryrentalapartmentunitsthroughoutninebuildingsrangingfromtwotofourstories.Theunitswillaverageapproximately1,000squarefeetandwillbemodernindesignwithexcellentfinishes.Amenitiesatthepropertywillincludeaclubhouse,resort-stylepool,fitnesscenter,conferencefacilityandsociallounge.ThepropertyislocatedonthesouthsideofU.S.Highway192inKissimmee,Florida,justtwomilesfromtheWaltDisneyWorldResortandThemeParkcomplex,andissurroundedbyawiderangeofretail,diningandentertainmentoptions.“HALLStructuredFinance’sexpertiseinbothrealestatedevelopmentandfinancemadethemtheidealpartnerforthisproject,”saidRussKrivor,PresidentandCEOofDLCResidential.“Theiruniquely-tailored,flexibleapproachtofinanceourdevelopmentmadethisloanclosurepossible,andwe’reexcitedtogetstarted.”HALLStructuredFinancehasnowclosedsixconstructionloansinFlorida,includingtheGaleResidencesinFt.Lauderdale,whichclosedinAugust2016.DLCResidentialhasnowdeveloped10apartmentcommunitiesthroughoutFlorida,Illinois,MississippiandTexas.AboutHALLStructuredFinanceHALLStructuredFinance(HSF)isanentrepreneurial,value-adddirectprivatelendertotherealestateindustry.Wespecializeinprovidingcapitalforgroundupconstruction,adaptivereuse,andmajorasset

Page 2: MEDIA CONTACT: HALL Group ORLANDO – February 8, 2017 – …€¦ · apartments in Kissimmee, Florida, a suburb of Orlando. The project developer is Florida-based DLC Residential

repositioningandrenovationsforcommercialrealestateprojectsthroughouttheU.S.TheHALLStructuredFinancelendingprogramisdesignedtoproviderealestateowners,operatorsanddeveloperswithanalternativetobankfinancing,andisorientedtobearesourcetoprojectsthatmaybeunderservedbytheinstitutionalcapitalmarkets.HSFisapartoftheHALLGroupfamilyofcompanies,whichconsistsofadiversifiedsetofcompanieswithcoreexpertiseinrealestate,inclusiveofdevelopment,managementandleasing.Formoreinformation,visithallstructuredfinance.com.AboutDLCResidentialDLCResidentialisafully-integratedmulti-familyprojectdevelopmentcompanywithprojectsacrosstheUnitedStates.Since2004,DLCResidentialhasbeenfocusingontheconcept,development,constructionandprojectmanagementofincomepropertyinthestrongestmarketsacrosstheUnitedStates.Anumberofnewcommunitiesarecurrentlyunderwaytoaddtothebaseofcompletedprojectsandby2016,DLCResidentialwillhavebuiltover4,000apartmentunitsacrosstheirmarketareasincludingafull-rangeofproducttypesfromgardenstyletohighrisemulti-familydevelopments.Byfocusingonintegrity,costcontrolsandcarefulmarketresearch,DLCResidentialcreatestangibleassetsandrealcashflow,resultinginviableinvestmentsandindustry-leadingreturns.Formoreinformationvisitwww.dlcresidential.com.

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