Orion Real Estate Group Acquires Posner Commons Shopping Center In Davenport For $63.5M With $45M Loan

The Posner Commons shopping center, located at 1300 Posner Boulevard in Davenport, features an impressive retail space spanning 460,565 square feet. The property was acquired for a total purchase price of $63.5 million, with financing secured through a $45 million loan from Synovus Bank.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $63,500,000
• Loan Amount: $45,000,000
• Address: 1300 Posner Boulevard
• Market: Davenport
• Asset Size: 460,565 SF
• Lender: Synovus Bank
• Landlord: Joseph Sanz - Orion Real Estate Group
• Broker Representatives: Aj Felberbaum, Jay Miller, Noah Rothman & Spencer Miller - BayBridge Real Estate Capital

The deal involved key representatives from Orion Real Estate Group and BayBridge Real Estate Capital, with Joseph Sanz representing the landlord, and the broker team comprising Aj Felberbaum, Jay Miller, Noah Rothman, and Spencer Miller facilitating the transaction. Notable anchor tenants at the property include Ashley Furniture, Best Buy, Dick’s, and JCPenney.