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JLL Arranges $198.56M Construction Loan For London Bay Development Group's 112 Unit Condo Project

Property Image
FINANCED
$198,000,000
Jimmy Calvo
Brian Gaswirth
Paul Adams

Florida

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Office384,191 SF
Financed 09/30/2025
the dealplayerscompscontact
Property Image
FINANCED

JLL Arranges $198.56M Construction Loan For London Bay Development Group's 112 Unit Condo Project

5000 Coconut Road

See Similar Deals
Office384,191 SF
Financed 09/30/2025
Jimmy Calvo
Brian Gaswirth
Paul Adams
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$515
Total Square Footage:384,191 SF
Transaction Type:Loan

The transaction involves a condo development located at 5200 Seagrass Boulevard, Bonita Springs, with a total square footage of 384,191. The asset is part of The Ritz Carlton Residences, Estero Bay, comprising 112 luxury units currently under development. A construction loan amounting to $198,560,000 has been secured for this project.

Summary of transaction details:

  • Property Type: Condo Development
  • Transaction Amount: $198,560,000
  • Lender: Bank OZK
  • Landlord: London Bay Development Group
  • Brokers: Brian Gaswirth, Jimmy Calvo & Paul Adams - JLL
  • Loan Type: Construction

JLL Capital Markets facilitated the arrangement of the construction financing for the second phase of the development, providing pivotal support for London Bay Development Group in advancing this project to completion.

Players

Brian Gaswirth
JLL
Brian Gaswirth
45 deals$6.3B volume(305) 421-6554
BROKER
Jimmy Calvo
JLL
Jimmy Calvo
16 deals$3B volume
BROKER
Paul Adams
JLL
Paul Adams
16 deals$2.6B volume(786) 532-2355
BROKER
JLL
JLL
BROKERAGE
Bank OZK
Bank OZK
LENDER

Details

FINANCED
IMAGE: Jimmy Calvo, Brian Gaswirth & Paul Adams DATE: 09/30/2025 ADDRESS: 5200 Seagrass Boulevard MARKET: Bonita Springs ASSET TYPE: Condo Development ~ SF: 384,191 LENDER: Bank OZK (@BankOZK) LANDLORD: London Bay Development Group BROKERS: Brian Gaswirth (@BGassy), Jimmy Calvo (@JCalvo1993) & Paul Adams - JLL (@JLL) LOAN AMOUNT: $198,560,000 LOAN TYPE: Construction NOTE FROM BROKER: JLL Capital Markets arranged the construction financing of the second phase of The Ritz Carlton Residences, Estero Bay, a 112 unit luxury condo project under development by London Bay.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$198,000,000.00

Monthly NOI$1,320,000.00
Monthly Debt Service$1,251,494.69
Change in Cash Flow$0.00
Refinance Proceeds$0.00