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Maurice Kaufman Of AMAC Secures $74M Loan From Ocean Bank And PCCP For Development Site In Kissimmee

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FINANCED
$74,000,000

Florida

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Development Site
Financed 01/09/2025
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FINANCED

Maurice Kaufman Of AMAC Secures $74M Loan From Ocean Bank And PCCP For Development Site In Kissimmee

Development Site
Financed 01/09/2025
the dealplayerscompscontact
Contact now

Summary

Asset Type:Development Site
Transaction Type:Loan

The transaction involves a development site located at the intersection of West Carroll Street and West Donegan Avenue in Kissimmee. The asset is designed for a residential project consisting of 380 units. The construction is financed through loans totaling $74,000,000 from Ocean Bank and PCCP, marking a significant investment in the area. The project's completion is anticipated by the first quarter of 2027.

Summary of transation details:

The key stakeholders in this transaction include Maurice Kaufman, representing AMAC, who is spearheading the development project as their first initiative within the Orlando market. The funding from Ocean Bank and PCCP enables the commencement of the project, which will offer modern apartments and luxury amenities to residents.

Players

Ocean Bank
Ocean Bank
LENDER
Pacific Coast Capital Partners (PCCP)
Pacific Coast Capital Partners (PCCP)
LENDER

Details

FINANCED
IMAGE: Maurice Kaufman DATE: 01/09/2025 ADDRESS: West Carroll Street & West Donegan Avenue MARKET: Kissimmee ASSET TYPE: Development Site LENDER: Ocean Bank (@OceanBankUS) & PCCP LANDLORD: Maurice Kaufman - AMAC LOAN AMOUNT: $74,000,000 LOAN TYPE: Construction NOTE: AMAC has broken ground on its 380-unit West Carroll Kissimmee development, located at West Carroll Street and West Donegan Avenue, with completion expected by Q1 2027. The project, financed with $74M in construction loans from Ocean Bank and PCCP, will feature modern apartments and luxury amenities, marking AMAC's first venture into the Orlando market.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$74,000,000.00

Monthly NOI$493,333.33
Monthly Debt Service$467,730.34
Change in Cash Flow$0.00
Refinance Proceeds$0.00