Berkadia Arranges $65.5M Bridge Loan for Ocoee Village Townhomes Build-to-Rent Community Near Orlando

Berkadia has arranged $65.5 million in bridge financing for Ocoee Village Townhomes, a 232-unit Class A build-to-rent community in Ocoee, Florida, approximately 20 minutes west of Downtown Orlando, the firm announced Oct. 27, 2026. The financing was arranged on behalf of the sponsor, Kimaya.

Associate Director Wesley Moczul of Berkadia Orlando led the transaction. He was supported by Senior Managing Director Mitch Sinberg, Managing Directors Brad Williamson, Scott Wadler and Matt Robbins, and Senior Analyst Jacob Kelly of Berkadia Miami.

Loan Terms and Use of Proceeds

Kayne Anderson provided a three-year, floating-rate loan with favorable economics and flexible prepayment. Loan proceeds will be used to retire existing construction debt as the property finalizes lease-up and moves toward stabilization.

The $65.5 million loan equates to roughly $282,328 per unit across the 232 residences.

Ocoee Village Townhomes Property Details

Ocoee Village Townhomes sits on 35.3 acres at 2039 Marigold Park Drive and comprises 232 residences across 43 two-story residential buildings. The community was completed in 2024 and includes 146 three-bedroom units and 86 four-bedroom units, with an average unit size of 1,645 square feet.

Townhomes feature integrated smart-home technology, oversized walk-in closets, chef-inspired kitchens, vaulted ceilings, hardwood-style flooring, custom cabinetry and private one- or two-car garages. Screened patios are offered in select residences. Community amenities include a resort-style pool, pickleball courts, cabanas, a playground, a dog park and EV charging stations.

The property is located within the Ocoee Village mixed-use development, which includes a Walmart Neighborhood Market and retailers and restaurants such as 7-Eleven, Chipotle, Papa Johns, AT&T, Tropical Smoothie Café, Jersey Mike's and Heartland Dental.

The community offers access to SR-429, SR-414, Florida's Turnpike, SR-408 and I-4. Residents are approximately 20 minutes from Downtown Orlando, 22 minutes from the AdventHealth and Orlando Health medical districts, and 25 minutes from the I-Drive/OCCC hospitality corridor, Walt Disney World and Universal Orlando.

"Ocoee Village offers a differentiated rental product that combines the space and privacy of a townhome with the amenities and professional management of a Class A multifamily community," said Moczul. "With limited competitive build-to-rent townhome supply in the surrounding area and strong connectivity to major Orlando employment centers, the community is well positioned to meet demand for larger-format rental housing in West Orange County."

Sponsor Kimaya

Kimaya is a multigenerational, family-owned commercial real estate firm affiliated with Park Square Homes. The firm's expertise spans land acquisition, development management, property and asset management, and investor relations. Its portfolio includes multifamily, build-to-rent, senior living, hospitality and retail assets. Kimaya currently owns or operates approximately 1,900 multifamily units, with approximately 1,160 additional units in development.

Orlando Multifamily Market Context

The financing comes as Orlando's multifamily market shifts from a period of heavy new supply toward gradual stabilization. Cushman & Wakefield reported that 9,505 units were delivered in the 12 months through the first quarter of 2026, increasing regional inventory by 4.4%. Stabilized occupancy fell 70 basis points year over year to 92.0%, while average rents declined 2.1% to $1,804 per month.

More recent data point to improving demand. Orlando vacancy has begun to decline as absorption exceeded new supply, though vacancy remained 70 basis points higher than a year earlier. Third-quarter occupancy was 92.7%, up 70 basis points year over year, while effective rents declined 2.1% to $1,658.

Approximately 9,100 units were expected to deliver in Orlando during 2026, below 2025 levels, and the construction pipeline held roughly 40% fewer units than a year earlier. Permitting has fallen to about half its five-year average pace.

Orlando apartment cap rates were generally in the mid-5% range. A near-term range of 5.25% to 6.0% has been forecast, and Orlando cap rates were near 5.3% in the second quarter of 2026.

Build-to-Rent Supply in Ocoee

Ocoee's municipal development pipeline includes additional residential projects. Planned developments include 196 additional townhomes and 316 multifamily units at Ocoee Village Center, along with 128 units at Greens at Forest Lake and 48 units at Magnolia Reserve Townhomes.

Every residence at Ocoee Village Townhomes is configured as a three- or four-bedroom townhome, a larger format than typical apartment communities. Bridge financing of this type allows a sponsor to complete lease-up and demonstrate operating performance before pursuing permanent financing or a sale.

Sources

Berkadia: https://www.berkadia.com/news/ocoee-village-townhomes-orlando-fl-financed-by-berkadia-2026/