Concord Summit Capital has 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 $27 million in mezzanine debt to support the development of the 415-unit Encore at Tradition by America Walks at Port St Lucie, LLC – a partnership between the principals of Pride One Construction, Brokaw Development Services and Riley Hotel Group.
The advisors responsible for arranging this financing were David Larson, Daniel Eidson and Keegan Burger from Concord Summit Capital’s headquarters located in Cleveland Ohio; with over 20,000 units constructed collectively by their team members. Encore at Tradition is situated within an established master-planned community offering 1 & 2 bedroom apartments ranging from 750 square feet to 1,250 square feet as well as 2 bedroom villas designed for up to 2 030 square feet with amenities such as salon services restaurant movie theater and golf simulator included onsite .
This latest closing marks another successful transaction completed by Concord Summit Capital totaling up to $122 Million dollars towards active adult living developments across Florida..
