Trez Capital Provides $42M Construction Loan for Ritz-Carlton Residences in Orlando
Unicorp National Developments has secured a $42 million construction loan for The Ritz-Carlton Residences in Orlando, Fla., Commercial Observer has learned.
Trez Capital managing director Ben Jacobson originated the loan on behalf of Unicorp. Jacobson is based in Trez Capital’s Florida office, led by executive managing director for the Eastern U.S., Brett Forman.
“Orlando’s high-end residential market is underserved,“ said Jacobson. “We are actively targeting opportunities in Orlando and the broader Central Florida region. Orlando is no longer just about theme parks. It has evolved into a diverse and sustainable real estate market and economy.” Forman added.
Located at 4012 Central Florida Parkway, The Ritz-Carlton Residences is a gated community including 37 three- and four-bedroom residences with pools. The project is part of the Grande Lakes community, which includes the Ritz-Carlton Orlando Grande Lakes resort. Amenities include a private clubhouse, spa, golf course, 11 restaurants and bars, children’s activities, water sports, hiking and nature trails.
This is the second major deal Trez Capital and Unicorp have done together after Trez’s Jacobson secured a $75.2 million loan last year for Unicorp’s 354-unit rental development in Sarasota, dubbed SOTA 75.
Unicorp National Developments officials did not immediately respond to a request for comment.
Update: This story originally misattributed source material. This has been corrected. We apologize for the error.
Emily Fu can be reached at efu@commercialobserver.com.
