Concord Summit Capital Closes $98.39 Million Financing For Orlando Resort
Owner Encore Capital Management, a longtime client of Concord Summit, plans to build 75 additional hotel rooms on the east wing of the resort.
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Owner Encore Capital Management, a longtime client of Concord Summit, plans to build 75 additional hotel rooms on the east wing of the resort.
Avison Young Senior Vice President Rosendo Caveiro exclusively represented the European-based seller during the sale.
The project is currently under construction and anticipated to open in 2023.
The property features 7,900 square feet and has 18.5 years remaining on its lease.
The shell buildings sold for approximately $127 per square foot.
Other phases of the development will include a mixed-use tower with 550 Class-A apartment residences and a boutique hotel. Complementing the development will be retail and restaurant spaces, structured parking garage and a waterfront activity plaza with green space.
Cresa Orlando’s Sarah Castor represented Florida Cancer Specialists, and Colliers’ Matthew McKeever and Rick Solik represented the landlord in the deal.
Rob Solito, vice president and broker at JM Real Estate, Inc., brought the sale to close. Cassandra Hartford of Curri Kirschner Real Estate Group in Melbourne represented the buyer, Relentless Hotel EGAD, LLC.
Sasha Dominguez and Jordan Shtulman of STREAM Capital Partners represented the seller in the transaction.
Palm Bay has grown to become the largest city in Brevard County with a population of nearly more than 111,000.
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