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Encore Capital Management Obtains $42M Bridge Loan For The Promenade At Sunset Walk In Kissimmee, Florida
FINANCED
$42,000,000
Florida
See Similar DealsRetail192,659 SF
Financed 08/22/2023
FINANCED
Encore Capital Management Obtains $42M Bridge Loan For The Promenade At Sunset Walk In Kissimmee, Florida
3280 Margaritaville Boulevard
See Similar DealsRetail192,659 SF
Financed 08/22/2023
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$218
Total Square Footage:192,659 SF
Transaction Type:Loan
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
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$42,000,000.00
Monthly NOI$280,000.00
Monthly Debt Service$265,468.57
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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