United Group has secured construction financing from Amerant Bank, N.A. (“Amerant”) for the development of Terracotta Terrace, a 152-unit luxury, market-rate, 55+, Active Adult community to be built in the Winter Park area within the Orlando MSA. This transaction represents United Group's 6th 55+ Active Adult community in Florida, which is in addition to the 10,000+ market rate multi-family units that United Group has developed and/or acquired in Florida.
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Orlando Business Journal: "Construction is underway on a 55-and-over luxury active adult residential community with 12,000 square feet of amenities along Semoran Boulevard
in Casselberry. The United Group of Companies secured construction financing for an undisclosed amount from Amerant Bank for the development of Terracotta Terrace. The 152-unit market-rate project will feature one- and two-bedroom apartment homes and penthouse floor plans with private balconies and patios in a five-story wood-framed building.
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REBusiness Online: "The United Group of Cos. has begun construction on Terracotta Terrace, an active adult community in Winter Park, roughly six miles northeast of Orlando. Upon completion, the property will total 152 units reserved for residents age 55 and older. Residences will include one- and two-bedroom apartments, as well as penthouses."
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