JACKSONVILLE, FLA. — Ceiba Groupe, a Fort Lauderdale-based developer, has received a $40.2 million construction loan for Royal Palms Main Street, a community in Jacksonville that is slated for completion in the first quarter of 2027. JLL arranged and Crestline Investors originated the loan.
The 227-unit community Royal Palms Main Street will feature 168 elevator-serviced, garden-style apartments and 59 townhomes. Units will be offered as one- and two-bedroom apartments and three- and four-bedroom townhomes. Amenities include a clubhouse, a pool, fitness center, a dog park and spa, a playground, climate-controlled storage units and a walking path surrounding a centralized lake.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Directors Chris Drew and Brian Gaswirth, Director Kenny Cutler and Associate Justin Ratcliffe.