Student housing continues to attract significant capital from institutional investors. Gideon Friedman's firm, Beachwold Residential, has secured $176.6 million in construction financing. This loan is designated for the realisation of the first two phases of Place at Alafaya, a four-building, 1,395-bed student housing complex located near the University of Central Florida campus in Orlando. This information was exclusively reported by Commercial Observer.
Affinius Capital provided the construction debt, while JLL arranged the transaction. The responsible JLL team comprised Mona Carlton, Elliott Throne, and Josh Odessky. According to JLL, this financing represents the largest private residential construction loan in Orlando's history, underscoring the project's significance for the local property market.
Strategic Location and Growing Student Numbers
Tyler Figley, Senior Vice President at Affinius Capital, emphasised in a statement that the new student housing would benefit from its proximity to the campus and the continuously increasing student numbers at the University of Central Florida (UCF). Figley further explained that this development aligns with his firm's strategy to finance high-quality student housing with first-class sponsorship at leading universities. Demographic trends in the region support this assessment.
The Place at Alafaya project is located at 11600 MacKay Boulevard, west of North Alafaya Trail, and is just a 15-minute walk from the UCF campus. The first phase includes the construction of two buildings with 284 residential units and just over 800 beds. An additional 767 parking spaces are planned, with completion of this section anticipated for 2028. The second phase, expected to be completed by 2029, comprises a property with 200 residential units, 585 beds, and 534 parking spaces.
Comprehensive Amenities for Students
The complex will also feature a three-storey, 16,000-square-foot clubhouse. It will offer a variety of amenities such as a coffee bar, lounge and study areas, a theatre, and a fitness and wellness centre. Outdoor facilities planned include courtyards, cabanas, pickleball courts, a basketball court, and a dog park, which are intended to provide residents with additional leisure opportunities.
