TRANSACTION OVERVIEW
Foss provided strategic capital advisory, underwriting, and structuring support in connection with the recapitalization of Nona Cove Apartments, a multifamily development within FUTURA at Nona Cove in Orlando, Florida.
Foss advised on a $22,500,000 preferred equity investment as part of a $96,000,000 total project capitalization. The recapitalization was executed mid-construction and required navigating a highly complex capital environment, including an existing HUD loan structure and an active general contractor dispute.
Working closely with the sponsor, the team evaluated capital alternatives, refined underwriting, and guided structuring decisions to successfully position the transaction for execution. While not serving as the placement agent, our team played an instrumental role in shaping the capital structure and driving the transaction through closing.
KEY FEATURES
$22.5M preferred equity recap within $96M total capitalization
260-unit multifamily development
Mid-construction execution with active capital and legal complexity
HUD financing structure requiring specialized expertise
Full underwriting, structuring, and capital advisory support
PROPERTY DETAILS
MULTIFAMILY UNITS: 260
LOAN TYPE: PREFERRED EQUITY
TOTAL DEVELOPMENT SIZE: 17 ACRES
