Floridays Development Company Secures $41.5 Million Construction Loan For 316-Unit Project In Rockwall

Harborside at Sapphire Bay is a 316-unit waterfront apartment project located at 1101 Sapphire Bay Blvd in the Rockwall market. The property is situated within the $1 billion Sapphire Bay master-planned community, which includes residential, retail, entertainment spaces, and a 1,000-slip marina. The development secured a construction loan for $41.5 million.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $41,500,000
• Units: 316
• Address: 1101 Sapphire Bay Blvd
• Market: Rockwall
• Landlord: Angus Rogers - Floridays Development Company
• Broker Representatives: Chris Paul, Danny Miller & Jorg Mast - Colliers
• Loan Type: Construction

The deal was arranged by Colliers, securing financing for the construction of the waterfront apartment project, which is a significant component of the larger Sapphire Bay community. Angus Rogers represents the landlord in this transaction.