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JDL Lands $160M Construction Loan for Juno Beach Condos – Connect CRE

by | Mar 5, 2024 | 0 comments

Argo Real Estate, Bsafal, and Taconic Capital Advisors have provided a $160 million construction loan to Chicago-based developers JDL Development and Wanxiang for Caretta, a new luxury residential condominium project in Juno Beach, FL. The five-story, 95-unit development is situated on five acres at the intersection of 1011 U.S. Highway 1 and Donald Ross Road and is approximately 400 yards from the beach. 

“We like the demand-supply skew of the Juno Beach-Jupiter submarket,” says Bsafal’s Ameesh Argawal, “Caretta is a great product-market fit and is set up for success.”

Caretta is expected to be completed in late 2026.

Taconic Capital was founded in 1999 by former Goldman Sachs partners Frank Brosens and Ken Brody. On its website, Taconic Capital adds, “We manage a wide range of investment strategies including opportunistic credit, merger arbitrage, catalyst-driven equities, and real estate, as well as a co-investment platform.”

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