Bank OZK Provides $173.5M Construction Loan For Ronto Group's Condo Development In Sarasota | 930 Benjamin Franklin Drive | Bank OZK | Steven (Steve) Klein, Brian Gaswirth, Paul Adams, Shane Ciacci | Development Site | Loan

Summary

Loan

FLORIDA

Development Site

The Ronto Group and Wheelock Street Capital have secured a $173.5 million construction loan from Bank OZK for a condominium development in Sarasota. The property is located at 930 Benjamin Franklin Drive and comprises 65 units. The loan will support the development of the project.

Summary of transation details

Property Type: Condo
Transaction Amount: $173,500,000
Address: 930 Benjamin Franklin Drive, Sarasota
Market: Sarasota
Loan Type: Construction Loan

The development project is spearheaded by the Ronto Group and Wheelock Street Capital. JLL's representatives on the deal include Steven Klein, Brian Gaswirth, Paul Adams, and Shane Ciacci. They will be working closely with the sponsors to ensure the smooth execution of the project.

Players

All
6

Agents
4
Agencies
1
Lenders
1

$40M Sold

Details

Deal Summary

FINANCED

IMAGE: Anthony Solomon, Hunter Jones, Steven Klein, Brian Gaswirth, Paul Adams & Shane Ciacci DATE: 11/03/2023 ADDRESS: 930 Benjamin Franklin Drive MARKET: Sarasota ASSET TYPE: Condo ~ UNITS: 65 LENDER: Bank OZK (@BankOZK) SPONSOR: Ronto Group - Anthony Solomon & Wheelock Street Capital - Hunter Jones SPONSOR'S REP: Steven Klein, Brian Gaswirth (@BGassy), Paul Adams & Shane Ciacci - JLL (@JLL) LOAN AMOUNT: $173,500,000 LOAN TYPE: Construction Loan

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Address 930 Benjamin Franklin Drive

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