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14051 International Drive

Updated May 27, 2025

PNC Bank Provides $69.245M Construction Loan For Bainbridge World Center 2 In Orlando
FINANCEDDevelopment Site

PNC Bank Provides $69.245M Construction Loan For Bainbridge World Center 2 In Orlando

14051 International Drive

$69,245,000

Units

415

Asset Type

Development Site

Closing

May 23, 2025

About this deal

AI

The development site located at 14051 International Drive in the Orlando market involves a significant construction project. The site is set to undergo a transformative development, with plans for 415 residential units distributed across four buildings. The amenities included in this project feature a clubhouse, a pool, and upscale facilities. Groundbreaking for the project is scheduled for June 2026.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $69,245,000
  • Lender: PNC Bank
  • Landlord: Richard Schechter - Bainbridge Companies
  • Loan Type: Construction
  • Expected Delivery: 14 months post-groundbreaking

This transaction is notable for the involvement of Richard Schechter, who represents Bainbridge Companies. The project, known as Bainbridge World Center 2, highlights the commitment of PNC Bank in providing funding for significant real estate developments in the area.

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$69,245,000

Development Site

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Players

PNC Bank
PNC BankLender
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Orlando Development Site Market Snapshot

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.23%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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