**Centennial Bank Closes $168M Construction Loan for Glasshouse Expansion in Orlando**
Centennial Bank has finalized a $168 million construction loan to fund the next two phases of Glasshouse at O-Town West, a large-scale multifamily development in Orlando. The project, spearheaded by Unicorp National Developments, is located at 11804 Glass House Lane and consists of three residential buildings. This latest transaction pushes the cumulative financing between Centennial Bank and Unicorp beyond the $1 billion milestone.
According to CommercialEdge, Phase I of the Glasshouse development includes more than 300 apartment units and is already more than 90% leased. Construction for this phase began in 2020, and the property was delivered in the past year. It is currently backed by a $93 million loan from Goldman Sachs, secured in 2023.
The newly funded phases will introduce an additional 591 residences, bringing the total unit count across the entire development to over 900. Designed as a vibrant neighborhood hub, Glasshouse features a wide array of high-end amenities, including a 30,000-square-foot clubhouse with an on-site restaurant and delivery service, a lakefront Lakehouse designed for weekend gatherings, a resort-style pool deck with cabanas and Jacuzzis, an Innovation Garden, and virtual reality gaming options for both kids and adults.
