Updated Oct 13, 2026
Jim Gielda Of JKM Developers Secures $28.25 Million Construction Loan From Amerant Bank For Wellington Development
1381 State Road 7
$28,250,000
Building Size
—
Asset Type
Development Site
Closing
Mar 4, 2025
About this deal
AI
The property asset involved in the transaction is a development site located at 1381 State Road 7, Wellington. The site encompasses 120 acres and is set to feature nearly 100,000 square feet of retail and office space as part of a mixed-use project. The project will also include various planned residential and medical office components.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $28,250,000
- Lender: Amerant Bank
- Landlord: Jim Gielda - JKM Developers
- Loan Type: Construction
In this transaction, Jim Gielda represents JKM Developers, securing the $28.25 million construction loan necessary to complete the retail phase of Lotis Wellington. The development is poised to attract tenants such as Cooper’s Hawk, Lazy Dog, and Foxtail Coffee.
On the Map
$28,250,000
Development Site
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Players
Wellington Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93