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

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FINANCED
$69,245,000

Florida

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Development Site
Financed 05/23/2025
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FINANCED

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

14051 International Drive

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Development Site
Financed 05/23/2025
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Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Loan

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.

Players

PNC Bank
PNC Bank
LENDER
BC
Bainbridge Companies
LANDLORD

Details

FINANCED
IMAGE: Richard Schechter DATE: 05/23/2025 ADDRESS: 14051 International Drive MARKET: Orlando ASSET TYPE: Development Site LENDER: PNC Bank (@PNCBank) LANDLORD: Richard Schechter - Bainbridge Companies (@BainbridgeCompanies) LOAN AMOUNT: $69,245,000 LOAN TYPE: Construction NOTE: PNC Bank has provided a $69.245M construction loan for Bainbridge World Center 2 in Orlando, with groundbreaking set for June 2026. The 415-unit project will include four buildings with a clubhouse, pool, and upscale amenities, and is expected to deliver in 14 months.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$69,245,000.00

Monthly NOI$461,633.33
Monthly Debt Service$437,675.50
Change in Cash Flow$0.00
Refinance Proceeds$0.00