Today is the 4th of March, 2026, and exciting developments are unfolding in Lake County, Florida. Recently, Marcus & Millichap Capital Corporation (MMCC) successfully arranged $3,685,000 in financing for the acquisition of Beacon Commons, a multifamily property boasting 48 units. This property is leased by Beacon College, a reputable private four-year college, making it a prime location for student housing.
Garrett Fierstein, the senior director in MMCC’s Orlando office, played a pivotal role in securing this financing. The funds were obtained from a national credit union on behalf of a private client. The loan features a 5-year term, a 67% loan-to-cost ratio, and a generous 30-year amortization period. Beacon Commons, located at 600 West Oak Terrace Drive, offers a mix of one- and two-bedroom units, along with desirable amenities such as on-site laundry, parking, storage spaces, and a courtyard complete with a firepit. For more details, you can check out the full article here.
Understanding the Financing Landscape
In the realm of multifamily financing, companies like Cornovus Capital are essential players. With over 70 years of combined experience, Cornovus Capital specializes in commercial real estate financing and tailored capital strategies aimed at supporting businesses through acquisition, expansion, and operational optimization. They focus on long-term growth and financial stability, navigating various market cycles.
Cornovus Capital has expertise in multiple financing programs, including HUD, Fannie Mae, Freddie Mac, LifeCo, CMBS, and bridge financing. Their customized financing solutions cater to developers, sponsors, and portfolio owners looking for stability and execution certainty. You can learn more about their offerings here.
Trends in Multifamily Housing
The multifamily housing market is currently experiencing significant shifts. Following the COVID-19 pandemic, migration trends have shifted from expensive primary metro areas to more affordable secondary markets, particularly in the Sun Belt and West regions. This shift has driven a national average rent increase of around 25% between 2021 and 2022, with even higher spikes in rapidly growing Sun Belt markets.
As affordability becomes a pressing issue, cities like Birmingham, Twin Cities, Raleigh, and Milwaukee are attracting job growth that appeals to college graduates. Researchers predict a continued trend towards fringe markets, such as Columbus and Indianapolis, where housing costs are more manageable. In Florida, places like Lakeland are seeing an influx of residents moving from Tampa, while Ocala is attracting those relocating from Orlando.
On a broader scale, the U.S. faces a significant apartment shortage—an estimated 600,000 units are needed due to underbuilding since the global financial crisis. To address this, a bipartisan push is underway to facilitate housing development, with various strategies including tax abatements and zoning reforms gaining traction. The federal tax bill in 2025 has also proposed a permanent increase in Low-Income Housing Tax Credits, signifying a commitment to improving housing accessibility.
As Lake County continues to develop its housing landscape, the recent acquisition of Beacon Commons stands as a testament to the growing demand for student housing and multifamily living options in the area. With companies like MMCC and Cornovus Capital leading the charge, the future looks promising for both investors and residents alike.