SCALE Lending Provides $79M Construction Loan For Bath Racquet Residences Redevelopment In Sarasota

The asset involved in this transaction is a development site located at 2170 Robinhood Street, Sarasota, which encompasses 43,500 square feet. The project is focused on the redevelopment of Bath + Racquet Residences, a mixed-use development that will incorporate 256 residential units alongside a private members’ club.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $79,000,000
• Lender: Martin Nussbaum - Slate Property Group - SCALE Lending
• Landlord: Fabio Di Prima - Silver Sky Global Capital
• Brokers: Jonathan Aghravi & Noam Katz - JBA Equities
• Loan Type: Construction

The key individuals involved in the deal include Martin Nussbaum from Slate Property Group who provided the loan, along with Fabio Di Prima representing Silver Sky Global Capital. The brokerage representation was managed by Jonathan Aghravi and Noam Katz from JBA Equities. The redevelopment project designed by Halflants & Pichette Architects is scheduled to include amenities such as tennis courts, pickleball courts, a fitness center, and commercial space, with programming curated by tennis legend Tommy Haas.