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ST. LUCIE COUNTY, Fl-Reserve Homes Ltd. LP, a Florida limited partnership, has obtained a $50-million development and construction loan for PGA Village here. The 3,400-acre, mixed-use, multi-phase project will include more than 4,000 residential units, some of which will be multifamily, along with industrial and commercial space.

Michael S. Greene, a shareholder in the West Palm Beach office of the law firm Akerman Senterfitt, represented SunTrust in preparing loan documents, performing due diligence with respect to the collateral property and incorporating provisions to maximize the funding flexibility for the project.

“It was a fairly complex loan that was brought to fruition over several months and in two phases,” Greene says in a statement. “The borrowers assembled the land from various sellers and at different times. In addition, the project will be built over multiple years, and some parts of it are still in the approval process.

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