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PCCP LLC Provides $67.8M Loan For Parkway Crossings In Kissimmee

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FINANCED
$67,800,000

Florida

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MultiFamily
Financed 06/07/2023
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FINANCED

PCCP LLC Provides $67.8M Loan For Parkway Crossings In Kissimmee

1001 E Osceola Pkwy Kissimmee, FL 34744, USA

See Similar Deals
MultiFamily
Financed 06/07/2023
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Loan

The development site located at 1001 East Osceola Parkway in Kissimmee, Florida has secured financing for its construction. PCCP LLC has provided a loan amount of $67,800,000 for the development of Parkway Crossings, a 309-unit upscale apartment property. The property, developed by Fore Property Co., features amenities such as a fitness center, swimming pool, smart-home technology, and electric-vehicle chargers.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $67,800,000
  • Address: 1001 East Osceola Parkway
  • Market: Kissimmee
  • Asset Type: Development Site
  • Acres: 6
  • Lender: PCCP LLC
  • Landlord: Fore Property Co. - Richard Fore
  • Loan Type: Construction Loan

PCCP LLC, the lender in this transaction, has provided the necessary financing for the development. Fore Property Co., represented by Richard Fore, is the landlord overseeing the project. The development site offers upscale apartments equipped with modern amenities like a fitness center, swimming pool, smart-home technology, and electric-vehicle chargers.

Players

LENDER

Details

FINANCED
IMAGE: Richard Fore DATE: 06/07/2023 ADDRESS: 1001 East Osceola Parkway MARKET: Kissimmee ASSET TYPE: Development Site ~ ACRES: 6 LENDER: PCCP LLC LANDLORD: Fore Property Co. - Richard Fore LOAN AMOUNT: $67,800,000 LOAN TYPE: Consruction Loan NOTE: PCCP LLC has provided $67.8 million in financing for the development of Parkway Crossings, a 309-unit apartment property in Kissimmee, Florida. The property, developed by Fore Property Co., will offer upscale units, amenities like a fitness center and swimming pool, and convenient features like smart-home technology and electric-vehicle chargers.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$67,800,000.00

Monthly NOI$452,000.00
Monthly Debt Service$428,542.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00