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

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.