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Affinius backs $176.6M construction loan for UCF-area student housing
The project Place at Alafaya will add 1,395 beds across four buildings, with construction scheduled to finish in 2028 and 2029.
Gideon Friedman’s Beachwold Residential has secured $176.6 million in construction financing for Place at Alafaya, a four-building student housing development near the University of Central Florida in Orlando, Commercial Observer reported.
Affinius Capital will provide the construction debt, with JLL’s Mona Carlton, Elliott Throne and Josh Odessky arranging the transaction. JLL said the financing is the largest private residential construction loan in Orlando’s history.
The first phase will add two buildings with 284 units and just over 800 beds, located at 11600 MacKay Boulevard, west of North Alafaya Trail and about a 15-minute walk from the UCF campus.
Construction for the first phase is expected to be completed in 2028, with the second phase delivering a 200-unit, 585-bed property by 2029, the outlet said. The complex will also include a three-story, 16,000-square-foot clubhouse and shared amenities including study lounges, a fitness and wellness center, and multiple outdoor sports and leisure features.