Robert Hernandez Of NorthMarq Arranges $6.7M Loan For Lake Harris Resort's RV Park In Tavares
3950 North Eichelburger Road
$6,700,000
Building Size
—
Asset Type
Hotel
Closing
Jan 6, 2026
About this deal
AI
The property involved is a hotel asset located at 3950 North Eichelburger Road in Tavares, featuring a 286-pad RV park alongside a motel, villas, clubhouse, pool, marina, and a 9-hole executive golf course on Lake Harris. The deal involves a loan amounting to $6,700,000 with terms structured as a five-year duration and a 20-year amortization period.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $6,700,000
- Address: 3950 North Eichelburger Road
- Market: Tavares
- Landlord: Lake Harris Resort LLC
- Broker: Robert Hernandez - NorthMarq
- Loan Terms: five-year, 20-year amortization
Northmarq’s Tampa Debt + Equity team, led by Robert Hernandez, facilitated the financing for the project on behalf of Lake Harris Resort LLC, specifically arranging permanent floating-rate financing for Fisherman’s Cove. The RV resort is situated approximately 35 miles from Orlando, enhancing its market appeal.
Players
Tavares Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.37%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93