Two Orlando-Area Real Estate Projects Secure $109M of Construction Loans
Concord Summit Capital Closes provides $54 million for Kissimmee condo-hotel and $55 million for Winter Garden multifamily development
Two Greater Orlando Area developments, The Registry at Grass Lake condo-hotel and Winter Garden multifamily development, secured construction loans totaling $109 million.
The Registry at Grass Lake is a 320-unit market-rate apartment community in Winter Garden being developed by L.M. Sandler & Sons. American Momentum Bank provided the loan for $55 million. Located at 14544 Avalon Road, the development will have a pool and clubhouse, concierge service, bike storage and outdoor grills. Construction will begin soon.
In the second transaction, Concord Summit arranged for Centennial Bank to provide a $54 million loan to build
Construction has already started for the second development, Embassy Suites at Sunset Walk, a 300-unit, for-sale condominium hotel project in Kissimmee. The developer, Encore Opportunity Fund, is offering buyers furnished and designed studio, one, -and two-bedroom condo hotel residences priced from the high $300s. Centennial Bank provided a $54 million loan for the construction.
Concord Summit Capital arranged the two loans.