Concord Summit Capital recently closed $122 million in financing for a 55-plus luxury rental community under construction in Port St. Lucie, FL. The package includes a $95 million construction loan and an additional $27 million of mezzanine debt to support the development of the 415-unit Encore at Tradition.
The experienced advisors from Concord Summit Capital—David Larson, Daniel Eidson and Keegan Burger—successfully arranged this financing on behalf of America Walks at Port St Lucie LLC, which is comprised of principals from Pride One Construction, Brokaw Development Services and Riley Hotel Group. Collectively these developers have constructed over 20,000 units throughout their headquarters city Cleveland Ohio area alone!
This gated community located within the Tradition master-planned community will feature 1-bedroom apartments ranging from 750 square feet to 1,250 square feet as well as 2 bedroom villas designed for 2 030 square feet with amenities such as salon restaurant movie theater golf simulator included!
