Student housing continues to secure institutional capital. 

Gideon Friedman’s Beachwold Residential has secured $176.6 million of construction financing to build the first two phases of Place at Alafaya, a four-building 1,395-bed student housing property near the University of Central Florida campus in Orlando, Commercial Observer can first report.

Affinius Capital provided the construction debt, while JLL’s Mona Carlton, Elliott Throne and Josh Odessky arranged the transaction. The financing is the largest private residential construction loan in Orlando’s history, according to JLL. 

Tyler Figley, senior vice president at Affinius Capital, said in a statement that the new student housing property will benefit from its location near the campus and the growing student enrollment at UCF. 

“This development aligns with our strategy of financing high-quality student housing with top-tier sponsorship at leading universities,” added Figley. 

Located at 11600 MacKay Boulevard — just west of North Alafaya Trail and a 15 minute walk from UCF campus — the first phase of Place at Alafaya will deliver two buildings featuring 284 units with just over 800 beds of student housing. Construction for this section will include 767 parking spaces and be finished in 2028, while the second phase will deliver a 200-unit, 585-bed property and 534 parking spaces by 2029. 

The complex also includes a three-story, 16,000-square-foot clubhouse that will feature amenities such as a coffee bar, social and study lounges, a theater, and a fitness and wellness center, along with courtyards, cabanas, pickleball courts, a basketball court and a dog park. 

Brian Pascus can be reached at bpascus@commercialobserver.com.