Barclay Group Secures $30M Construction Loan For Pineda Commons Development, Melbourne

The development site located at 5185 & 5195 North Wickham Road in Melbourne spans across 17.8 acres. The property will be the site for the Pineda Commons retail development, which will include a Sprouts Farmers Market, EoS Fitness, retail spaces, and a Fifth Third Bank. Construction is set to commence in Q2 2024, with an anticipated completion date in early 2025.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $30,000,000
• Market: Melbourne
• Asset Type: Development Site
• Acres: 17.8
• Lender: Longline Holdings
• Landlord: David Coia - Barclay Group
• Loan Type: Construction Loan

Barclay Group successfully secured close to $30 million in financing for the Pineda Commons project. This funding was crucial in navigating a challenging lending environment, enabling the development of a vibrant retail hub in Melbourne, Brevard County. David Coia, representing the Barclay Group, played a significant role in finalizing this construction loan, ensuring the realization of this expansive retail project.