SteeleHarbour Capital Partners Secures $20.5 Million Loan For Mixed-use Development In Sarasota

The property asset involved in this transaction is a mixed-use development located at 1520 Ringling Boulevard in Sarasota. The loan amount secured for this project is $20,500,000. The financing is structured as a pre-development loan with a floating-rate disposition over a term of 24 months.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $20,500,000
• Lender: George Gleason, Greg Newman & Tom Moore - Bank OZK
• Landlord: SteeleHarbour Capital Partners
• Broker Representatives: Charles Foschini, Chris Apone & Shannon Wilson - Berkadia
• Loan Type: Pre-development
• Loan Terms: Floating-rate loan with a 24-month term

Key individuals involved in the deal include the lender team from Bank OZK, consisting of George Gleason, Greg Newman, and Tom Moore, who facilitated the financing. The landlords, SteeleHarbour Capital Partners, are responsible for the property, while the brokerage representation was provided by Charles Foschini, Chris Apone, and Shannon Wilson from Berkadia, consolidating the diverse roles within this transaction.