Encore Capital Management Obtains $42M Bridge Loan For The Promenade At Sunset Walk In Kissimmee, Florida
3280 Margaritaville Boulevard
$42,000,000
$218/SF
Building Size
192,659 SF
Asset Type
Retail
Closing
Aug 22, 2023
AI
Encore Capital Management has secured a $42 million bridge loan for The Promenade at Sunset Walk – Margaritaville Resort, a fully leased retail center located at 3280 Margaritaville Boulevard in Kissimmee, Florida. This property spans an impressive 192,659 square feet across 11 acres.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $42,000,000
- Address: 3280 Margaritaville Boulevard
- Market: Kissimmee
- Asset Size: 192,659 square feet
- Land Area: 11 acres
The bridge loan obtained by Encore Capital Management will be used to repay construction loans and support the ongoing leasing and development of The Promenade at Sunset Walk – Margaritaville Resort. This funding will help further enhance the property and ensure its continued success in the market.
Players
Coronado Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93