Dallas developer Craig Hall’s lending arm extends $37M to luxury project in Florida

Dallas developer Craig Hall‘s structured finance division — Hall Structured Finance — has made a $37.7 million loan to finance the construction of a luxury apartment community near Orlando in Florida.

The new loan will help fund the construction of the Millennium at Citrus Ridge apartments in Kissimmee, Florida, which is a suburb of Orlando. Florida-based DLC Residential is the developer.

The luxury apartment development was a great fit for Hall Structured Finance, given the strength of its sponsorship, attractive location in close proximity to Walt Disney World and the proven performance of high-quality, suburban apartments in the Orlando market, said President Mike Jaynes.

Last August, Jaynes spoke with the Dallas Business Journal about the new division of Hall Group, which plans to leverage Hall’s proven history to give life to new projects.

The 326-unit luxury apartments will sit in nine buildings ranging from two- to four-stories tall. Each apartment will average about 1,000 square feet and will have modern finishes.

Plans for the community also include a resort-style pool, clubhouse, fitness center, social lounge and conference facility. Upon completion, it will sit two miles from Walt Disney World Resort and Theme Park.

This is the sixth construction loan for Hall Structured Finance in Florida.

About a year or so ago, Hall Group decided to focus on expanding the business and it has now become a steady business that complements the rest of the company, Jaynes told the DBJ.

“We really leverage off Hall as a parent company and we are able to look at real estate from a different perspective than most lenders,” he added. “Because we are independent and not regulated, we are able to meet the needs of some particular projects.”

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