Flacks Group Secures $20.1M Construction Loan For Multifamily Property In Davenport, Orlando

The multifamily property located at 1401 Davenport Blvd in Davenport, Orlando, with a total of 132 units and 132,000 square feet, has recently undergone a loan transaction.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $20,100,000
• Market: Davenport, Orlando

The loan, totaling $20,100,000, was provided by Dwight Mortgage Trust. Adam Sasouness and Ian Hawk represented the lender in this transaction. The loan type was construction, indicating that it was used to finance the development or renovation of the property.

The landlord of the property is Flacks Group, represented by Michael Flacks and Jordan Desnick. The brokerage firm Sevenstone Capital, with Jeff Seidenfeld as the representative, facilitated the deal between the landlord and the lender.

"Everyone at Dwight made us feel like closing this loan was a priority for them,” said Jordan Desnick, Head of U.S. Real Estate at Flacks Group. “From the initial underwriting through loan closing, we felt like we were working with a team who fully embraced our vision for this site and our future plans."