A construction loan of $61.3 million has been secured for a development site located at 503 Brookhaven Drive in Orlando. The site encompasses a total square footage of 293,000 and will host a mixed-use project known as The Yard at Brookhaven. This seven-story development will feature 265 residential units and include 18,000 square feet dedicated to retail space, with anticipated completion in early 2027.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $61,300,000
• Lender: City National Bank
• Landlord: Luis Donaldson - Real Estate Inverlad Development
• Broker: Marc Sumner - Berkadia
• Loan Type: Construction
• Loan Terms: three-year, adjustable-rate loan

Marc Sumner from Berkadia played a significant role in arranging the loan from City National Bank for Real Estate Inverlad Development. This collaboration marks an important step for the project, which aims to enhance the Lake Ivanhoe area of Orlando with its mix of residential and retail offerings.