Updated Oct 29, 2024
PCCP LLC Secures Loan On Orlando Commercial Property With Synovus Financial
13501 Ingenuity Dr, Orlando, FL, 32826
Building Size
—
Asset Type
Commercial
Closing
Nov 20, 2023
About this deal
AI
The transaction involves the acquisition of Resource Square One and Three, two fully occupied commercial buildings located at 13501 Ingenuity Dr and 12001 Research Parkway in Orlando’s Central Florida Research Park. The total square footage of the buildings is approximately 245,000 square feet. This sale was facilitated for $50.4 million.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $50.4 million
- Address: 13501 Ingenuity Dr, Orlando, FL, 32826
- Market: Orlando
- Borrower: PCCP LLC
- Lender: Synovus Financial
- Borrower's Representative: Maxx Carney-JLL
- Seller: TerraCap Management LLC
- Buyers: Crocker Partners LLC and PCCP LLC
- Square Footage: Approximately 245,000
- Location Proximity: Near University of Central Florida and Fla. State Routes 50 and 408
- Building Ages: Resource Square One constructed in 1999, Resource Square Three delivered in 2003
The JLL Capital Markets team represented the seller and successfully procured the buyer in the transaction. Notable members of the JLL team include Ike Ojala, Hermen Rodriguez, Robbie McEwan, and Matt McCormack. Additionally, JLL’s Maxx Carney and Reid Carleton were instrumental in securing a seven-year, floating-rate acquisition loan for the buyers with Synovus Financial Corp.
Players
Orlando Commercial Market Snapshot
Boundary boundary · Commercial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93