American Momentum Bank Provides $55M Loan for Orlando Multifamily Development
L.M. Sandler & Sons has landed a $55 million construction loan for The Registry at Grass Lake, a 320-unit market-rate apartment community in Orlando, Fla., Commercial Observer can first report.
American Momentum Bank provided the loan.
Located at 14544 Avalon Road, the development will have a pool and clubhouse, concierge service, bike storage and outdoor grills. Construction will begin soon, according to a release.
Concord Summit Capital arranged the financing, with a team led by Kevin O’Grady, Justin Neelis and Daniel Rojo.
“Hospitality and multifamily asset classes continue to perform well in Florida due to robust in-migration and a spike in post-pandemic tourism in the state,” O’Grady said in prepared remarks.
Officials at L.M. Sandler & Sons and American Momentum Bank did not immediately respond to requests for comment.
Emily Fu can be reached at efu@commercialobserver.com.
