Concord Summit Capital has successfully closed $122 million in financing for a 55-plus luxury rental community currently under construction in Port St. Lucie, FL. The package includes a $95 million construction loan and an additional $27 million in mezzanine debt to support the developers of the 415-unit Encore at Tradition project.
The experienced team of Concord Summit Capital advisors – David Larson, Daniel Eidson and Keegan Burger – were responsible for arranging this successful financing deal.
America Walks at Port St Lucie, LLC is developing this gated community located within the Tradition master-planned area; it will feature 1- and 2-bedroom apartments ranging from 750 square feet to 1,250 square feet as well as 2 bedroom villas designed with up to 2,030 square feet each unit. Residents can enjoy amenities such as salon services, restaurant dining options movie theater entertainment and golf simulator activities onsite once completed . This partnership between Pride One Construction , Brokaw Development Services , Riley Hotel Group (all headquartered out of Cleveland Ohio) have collectively constructed over 20 thousand units prior .
At Connect CRE we are proud to report that Concord Summit Capital has closed their successful financing deal for America Walks’ active adult development project – Encore at Tradition – providing residents with luxurious living experiences complete with alluring amenities upon completion!
