Walker & Dunlop Secures $72.7 Million Construction Loan For Vintage Lake Powell Development Site

The property asset involved is a development site located at 24000 Panama City Beach Parkway in the Panama City Beach market. It is being developed into a 289-unit Class A mixed-use apartment complex by TDK Construction and Oldacre McDonald, featuring six apartment buildings along with nearly 20,000 square feet of retail space on the ground floors. The project includes a variety of amenities such as a clubhouse, fitness facility, and outdoor spaces.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $72,700,000
• Loan Type: Construction
• Landlord: TDK Construction & Oldacre McDonald
• Brokers: David Strange & Keith Melton - Walker & Dunlop

Walker & Dunlop has secured a $72.7 million construction loan for the project, highlighting the financial backing for the development efforts led by TDK Construction and Oldacre McDonald. The brokers involved in this transaction, David Strange and Keith Melton from Walker & Dunlop, play a critical role in facilitating this loan arrangement for the multifaceted development.