The Klotz Group of Companies closed the$38 million construction loan for luxury Palm Coast multifamily development
Updated May 9 with more details on the location
The Klotz Group of Companies, a Jacksonville-based private equity real estate investment platform, in partnership with KABR Group, has closed on a $38 million construction loan for their newest multifamily development, Dos Palmas, at 100 Ariella Place in Palm Coast, at the corner of Matanzas Woods and Belle Terre parkways.
The team is expected to break ground on the development next month, and completion is expected in January 2024. Regions Bank provided the loan.
“Palm Coast is great city with great leadership and a strong future. It is currently one of the top five fastest growing cities in the entire country, with a population that is expected to double by 2035,” said Jeff Klotz, CEO of The Klotz Group of Companies. “This is the perfect time for us to expand our footprint in that market which offers a prime location between Orlando and Jacksonville.”
The 285 units at Dos Palmas will include one-, two- and three-bedroom units.