JLL Arranges $176.6M Construction Loan for Beachwold Residential's 1,395-Bed UCF Student Housing Project
JLL has arranged $176.6 million in construction financing for The Place at Alafaya, a 1,395-bed student housing development serving the University of Florida Foundation in Orlando, Florida, the firm announced July 16, 2026. The transaction is described as the largest private residential construction loan in Orlando's history.
JLL worked on behalf of the borrower, Beachwold Residential, a vertically integrated owner, operator and developer with operations in student housing and multifamily development nationwide. Beachwold Residential is led by Gideon Friedman and Amir Hazan.
Project Details and Location
The Place at Alafaya is located at 11600 MacKay Blvd. in Orlando, situated directly across from UCF's southwest campus boundary along North Alafaya Trail. The location provides students with access to the university via walking, biking or the campus shuttle system. The property also sits in proximity to Orlando's Brightline station, which offers high-speed rail connections to South Florida's major employment centers.
The development will deliver 484 units across three four-story residential buildings and a standalone three-story clubhouse spanning more than 16,000 square feet. Units will include private bedrooms with individual bathrooms, modern finishes and in-unit washers and dryers. The property is designed as a low-density community with outdoor green spaces and courtyards.
Planned amenities include a lagoon-style pool, fitness center with cold plunge and sauna, private study rooms, pickleball and basketball courts and a game lounge. Beachwold Residential plans to begin construction in 2026, with completion of the first phase expected in fall 2028.
UCF Enrollment and Market Fundamentals
UCF is the second-largest university in the nation by enrollment, with over 70,000 students for the 2025 academic year. Total enrollment has grown 15 percent over the last decade. As of July 2026, the UCF-area student housing market is over 90% preleased for the 2026–2027 academic year, according to JLL.
Orlando continues to rank among the fastest-growing metro areas in the United States, placing second nationally in population growth for the second consecutive year, according to the announcement. The region's economy has expanded beyond tourism to include healthcare, technology and aerospace sectors.
"Securing construction financing for The Place at Alafaya in today's capital environment reflects both the resilience of Orlando's student housing sector, the institutional confidence in UCF's enrollment fundamentals and a highly regarded sponsor that capital wanted to partner with," said Joshua Odessky, Director at JLL Capital Markets. "With its premier location and best-in-class amenities, this development addresses significant unmet demand and will deliver a differentiated living experience for students at one of the nation's fastest-growing universities."
JLL Capital Markets Team and Beachwold Residential Background
JLL Capital Markets' Debt Advisory team representing the borrower was led by Senior Managing Directors Mona Carlton and Elliott Throne, Director Joshua Odessky, Associates Michael Romero and JJ Hovenden, and Analyst Luke Maganas.
Beachwold Residential is a privately owned real estate company with more than 16,000 multifamily units nationwide. The firm controls over 900 units in the Orlando market and maintains a development pipeline exceeding $1 billion, according to the announcement.
Alpine Residential is also listed as a participant in the transaction.
Broader Capital Market Context
The financing underscores continued lender appetite for large-format student housing developments when backed by strong enrollment fundamentals, direct campus adjacency and a sponsor with an established operating track record. The 90%-plus preleasing rate for the upcoming academic year signals limited near-term slack in the UCF off-campus housing market, even as new supply enters the pipeline.
JLL Capital Markets is a global provider of capital solutions for real estate investors and occupiers, with more than 3,000 specialists worldwide and offices in nearly 50 countries. JLL (NYSE: JLL) reported annual revenue of $26.1 billion and operates in over 80 countries with a global workforce of more than 113,000 as of March 31, 2026.
Sources: JLL Newsroom, July 16, 2026