Synovus Bank Provides $45M Construction Loan For 360-Unit Development Site In Orlando

The development site located at 12501 Wewahootee Rd in Orlando has recently secured a construction loan from Synovus Bank. The loan, amounting to $45,000,000, has a four-year fixed-rate term. The property spans across 18 acres and features a total of 360 units with a combined square footage of 366,300.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $45,000,000
• Lender: Synovus Bank
• Landlord: The Cornerstone Group - Bill Kassebaum & Pablo Lopez
• Brokers: Matthew Williams, Kyle Schlitt & James Maynard - Newmark
• Units: 360
• Acres: 18
• Square Footage: 366,300

The deal was facilitated by Newmark, with Matthew Williams, Kyle Schlitt, and James Maynard representing the parties involved. The Cornerstone Group, led by Bill Kassebaum and Pablo Lopez, acted as the landlords in the transaction.