Updated Jul 1, 2026
Ocean Bank Provides $15 Million Loan For JCS IDRIVE LLC Development In Orlando
8554 International Drive
$15,000,000
Building Size
—
Asset Type
Development Site
Closing
Jun 30, 2026
About this deal
AI
The asset involved in this transaction is a development site located at 8554 International Drive, Orlando, FL. The site has a Building Square Footage (BSF) of 16,229 and is under development as an experiential recreation and miniature golf venue called Orlando PopStroke. The loan amount provided for this project is $15 million, which is designated for construction purposes.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $15,000,000
- Lender: Ocean Bank
- Landlord: JCS IDRIVE LLC
- Broker: Juan Mendiola - Ocean Bank
- Loan Type: Construction
Juan Mendiola arranged the financing on behalf of Ocean Bank for the construction of Orlando PopStroke, which will take the place of the former Pirate’s Cove Adventure Park. This transaction highlights the collaboration between the lender and landlord in bringing this recreational venue to fruition.
On the Map
$15,000,000
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93