Florida Hard Money Deal - Close

770

30 deals

Yes

Kissimmee

Florida

$49,000,000

$26,000,000

$150,900,000

Below is a rewritten version with business names, personal names, and identifiable entities replaced by neutral descriptors to better protect the parties involved. Source text provided by you.

**Confidential Loan Summary – Redacted Version**

**Sources & Uses**
Paydown of Existing Term Loan: $49,000,000
Development Cost: $13,268,228
Developer Overhead: $460,722
Bond Assessment Reserve: $2,800,000
Property Taxes: $300,000
Financing Fee (1%): $750,000
Interest Reserve: $6,750,000
Subtotal Uses: $73,328,950
Contingency: $1,671,050
**Total Uses: $75,000,000**

The current lender has a strong relationship with the borrower. The borrower has made all payments on time and is not in default, nor at risk of default. The term loan must be retired because the lender originally used immigration-investment program capital, and those investors now wish to reallocate their funds to other projects.

## Senior Secured Bridge Financing – $75MM

Comprehensive data room link available upon request.

Sponsor will pay third-party due diligence fees when transacted through escrow and supported by invoices. Any other due diligence fees not paid through escrow with invoices will only be paid at closing.

**Total Value of All Lot Sale Contracts: Approximately $136.6MM**

## Premium Mixed-Use Development in a Major Tourism Corridor

This is a visionary 234-acre mixed-use development located in a prime Central Florida tourism corridor, minutes from globally recognized attractions and positioned within one of the country’s strongest tourism markets. The property benefits from excellent accessibility, including more than 90,000 daily vehicle trips along the adjacent major highway, and is situated near key roadway intersections with convenient access to the international airport.

The project is backed by more than six years of successful entitlement and permitting work, with approximately $19 million in sponsor equity already invested in approved anchor components, including a major family-themed hospitality resort, an internationally branded luxury hospitality concept, and a nationally recognized neighborhood retail anchor, each with executed agreements and approved building permits.

## De-Risked Capital Stack with Committed Anchor Counterparties

The project represents a de-risked development opportunity supported by multiple committed counterparties and binding agreements. One branded resort component, consisting of hotel rooms and branded residential units, is partially pre-sold, with building permits approved and construction ready to begin immediately. A second branded resort and residences component also has meaningful pre-sales and completed construction drawings. The retail anchor has executed its purchase agreement for approximately 50,000 square feet of neighborhood retail, with construction scheduled to begin in late 2025.

An international entertainment district component, developed in partnership with a globally experienced cultural and entertainment operator, adds further credibility and destination appeal. This portfolio of committed partners materially reduces execution risk and supports market demand in this high-profile location.

## Conservative Loan Structure with Clear Repayment Path

The $75 million senior secured bridge loan is structured with a built-in interest reserve and an 18–24 month term, secured by a first-lien mortgage at a conservative 49.7% loan-to-value ratio. The sponsor has demonstrated approximately $44.9 million in committed equity.

The proposed exit strategy is based on structured parcel sales expected to generate net proceeds of approximately $130.5 million, with full repayment projected by mid-2026. Financial modeling reflects sequential lot sales beginning in late 2025 and continuing through late 2027, with cumulative paydowns fully retiring the facility.

The sponsor team brings more than 100 years of combined experience across hospitality, multifamily, public-sector projects, and international development spanning North America, the Middle East, and the Caribbean.

## Strategic Positioning in a Record-Growth Tourism Market

The local tourism economy recently reached a record economic impact, welcoming more than 75 million visitors annually and generating over 56 million annual airport passengers. This development is positioned to capture that demand through a diversified mix of hotel, residential, retail, and entertainment uses.

The project entitlements allow for approximately 2,800 units and 300,000 square feet of commercial space. With multiple international hospitality brands committed, pre-sales underway, infrastructure substantially complete, and anchor counterparties prepared to move forward, this presents a rare bridge financing opportunity combining institutional-quality collateral, recognizable brand partnerships, and a transparent, mathematically supported exit strategy in one of the nation’s most resilient tourism markets.

**Total Value of All Lot Sale Contracts: Approximately $136.6MM**

## Fully Executed Contracts (Binding)

**1. Parcel A – National Retail Anchor: $7,200,000**

* Buyer: National retail affiliate entity
* Approximately 6.07 acres for retail development

**2. Parcel L: $21,000,000**

* Buyer: Hospitality acquisition entity I
* Executed August 15, 2024
* Hotel and branded residential development

**3. Parcel N: $22,000,000**

* Buyer: Hospitality acquisition entity II
* Executed August 15, 2024
* Hotel and branded residential development

**Subtotal Executed Contracts: $50,200,000**

## Letters of Intent (Non-Binding)

**4. Parcels G, H, I + Main Area: $25,280,000**

* Buyer: International entertainment development group and assignees
* 12.64 acres at $2MM per acre
* LOI dated November 20, 2023

**5. 18.5 Acres: $30,000,000**

* Buyer: Highly Experienced Buyer/Developer
* LOI dated May 7, 2025
* Commercial development

**6. Parcel J: $5,814,000 – $5,985,000**

* Buyer: Private development group
* Variable pricing: $1.7MM per acre if closing by February 28, 2025, or $1.75MM per acre thereafter
* LOI dated December 18, 2024

**7. Parcels C, H, I: $25,340,000**

* Buyer: Private acquisition entity
* 12.67 acres at $2MM per acre
* LOI dated February 5, 2025
* Breakdown: Lot C ($5.42M) + Lot H ($10.38MM) + Lot I ($9.54MM)

**Subtotal LOIs: $86,434,000 – $86,605,000**

## Important Considerations

**Overlapping Parcels:**
There appear to be overlapping claims on certain parcels. Two separate LOIs reference some of the same parcels, suggesting one transaction may have superseded the other.

**Binding Status:**
Only the three fully executed contracts, totaling $50.2MM, are legally binding. The LOIs are generally non-binding and should be viewed as preliminary expressions of interest subject to due diligence, financing, and definitive purchase documentation.

**Timeline:**
The executed contracts date from 2024, while the LOIs span from late 2023 through early 2025, indicating active and ongoing negotiations across the project.

**Current Status:**
A major strategic buyer recently completed an on-site visit and is currently evaluating a possible offer to acquire most or all of the parcels not yet covered by binding contracts, while potentially retaining the sponsor as general contractor. Overall, the site appears to have positive and fluid forward momentum.

The sponsor is also open to the bridge lender providing substantial additional construction financing tied to the family-themed hospitality component. The luxury hospitality component would require further large-scale construction financing as well. A transaction with the strategic buyer could require construction funding well in excess of $500MM.

Given the sponsor’s long-term track record of borrowing and repaying significant capital over a 30+ year career, this borrower may represent a strong long-term lending relationship.