JLL Arranges $198.56M Construction Loan For London Bay Development Group's 112 Unit Condo Project
5000 Coconut Road
$198,000,000
$515/SF
Building Size
384,191 SF
Asset Type
Office
Closing
Sep 29, 2025
About this deal
AI
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.
On the Map
$198,000,000
$515/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93