The college will use the funds to finance construction of a new Performing Arts Center and renovation of the school's existing music and communications buildings.
SunTrust Bank provided the loan; Fidelity underwrote it; and Cobb Cole issued the title insurance policy. The bonds were issued under the Volusia County Educational Facilities Authority.
Cobb Cole and Fidelity have completed four commercial real estate deals valued at $25 million this year. The two firms have collaborated on title policies for a $1.36 million loan on an agriculture property purchase in Lake County; a $1.4 million loan on an Ormond Beach, FL residence; and a $450,000 loan for a manufacturing plant site in DeLand, FL. That transaction will evolve into a $2.5 million construction loan by year end.
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