{{Title}} - Foss Real Estate Partners

CASE STUDY

Financial Strategy for a $135 Million Mixed-Use Development

Amount

$135,500,000

Location

Orlando, FL

Type

Mixed-Use Development

The Situation

Nona Cove is a multi-phase mixed-use development in Orlando, Florida, bringing together a 90,000-square-foot climate-controlled self-storage facility, a 250,000-square-foot luxury apartment community, and a 22,000-square-foot neighborhood retail center into a single integrated project.

As the development progressed through multiple phases, each asset required its own financial strategy, capital structure, and underwriting while remaining aligned with the broader business plan. Supporting the project required commercial real estate financial modeling, development underwriting, capital markets execution, and ongoing asset management across multiple asset types and financing events.

Beyond initial capitalization, the sponsor required a long-term financial partner capable of supporting recapitalizations, evaluating new investment opportunities, and maintaining accurate financial models as the development continued to evolve.

Our Approach

Foss has served as an extension of the development team by providing commercial real estate financial modeling, acquisition and development underwriting, capital markets advisory, and asset management modeling across the entire Nona Cove community.

The engagement has included maintaining integrated financial models for each component of the development while supporting ongoing investment decisions through monthly reforecasting, scenario analysis, stress testing, and asset management reporting. As financing needs evolved, Foss executed a $23 million bridge loan for the self-storage facility and arranged a $22.5 million preferred equity investment for the luxury apartment community as part of a broader recapitalization strategy.

In addition to capital markets execution, Foss continues to support the sponsor through acquisition underwriting, development pro formas, capitalization strategies, and financial modeling for future phases of Nona Cove, providing a consistent analytical framework throughout the project's lifecycle.

The Results

Nona Cove continues to advance as a multi-phase mixed-use community supported by an integrated financial strategy spanning underwriting, capitalization, and ongoing asset management.

The engagement has included the successful execution of a $23 million bridge loan for the self-storage component and a $22.5 million preferred equity placement for the apartment community while maintaining financial models across the broader development. Ongoing underwriting, financial modeling, and asset management continue to support investment decisions as additional phases move forward.

The engagement demonstrates how a single financial partner can provide commercial real estate underwriting, financial modeling, capital markets advisory, and asset management services across every stage of a complex mixed-use development, from initial capitalization through long-term ownership.