Beachwold Residential has secured a $176.6 million construction loan from Affinius Capital to finance the ground-up development of Place at Alafaya Phase I & II, a two-phase student housing community planned near the University of Central Florida in Orlando. Led by Gideon Friedman, the development will ultimately comprise four four-story buildings containing 484 residential units, 1,395 beds, and 1,301 parking spaces.
The development will be constructed in two phases. Phase I will deliver a two-building, four-story community with 284 units, 809 beds, and 767 parking spaces prior to the start of the 2028-2029 academic year. Phase II will add 200 units, 586 beds, and 534 parking spaces, with delivery scheduled before the 2029-2030 academic year.
A standalone three-story, 16,000-square-foot clubhouse will serve as the property’s central amenity building. Plans call for a boutique coffee bar, social and study lounges, gaming and theater areas, and a top-floor fitness and wellness center featuring a sauna and cold plunge.
Additional amenities will include lagoon-style swimming pools with cabanas, multiple landscaped courtyards, pickleball courts, a half-court basketball area, dog parks, outdoor fitness equipment, study lounges, private study rooms, game rooms, outdoor televisions, turf lounges, barbecue areas, walking trails, and a dedicated shuttle service providing direct access to the UCF campus.
Affinius Capital Senior Vice President Tyler Figley commented, “This development aligns with our strategy of financing high-quality student housing with top-tier sponsorship at leading universities. The project’s location proximate to campus makes this a compelling opportunity to deliver highly-amenitized purpose-built student housing that will capitalize on the continued growth of the University of Central Florida. We look forward to partnering with Beachwold on this project.”
The financing was arranged by Mona Carlton, Elliott Throne, and Josh Odessky of JLL.
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