Berkadia Provides $41M Recap for Orlando Mixed-Use High-Rise
The 164,000-SF One Eleven building includes office, residential and retail space.
Lincoln Orlando Holdings has secured a $41 million recapitalization for One Eleven, its 30-story, mixed-use high-rise in Downtown Orlando, Commercial Observer has learned. The 15-year-old building features residential, retail, parking, and more than 150,000 square feet of Class A office space.
Berkadia’s South Florida team of Charles Foschini, Chris Apone and Shannon Wilson arranged the five-year, full-term, interest-only loan that was provided by Morgan Stanley. Berkadia recently became the top provider of commercial mortgages in Florida, having originated $5 billion in 2022.
“While the debt markets for assets with a large office component remain challenging, we were able to source a loan for this mixed-use landmark that accomplished the borrower’s needs with a term interest-only feature that will provide a strong yield to its owners in the years to come,” Foschini said in a statement.
Located at 111 East Washington Street in Orlando’s central business district — and just steps away from Lake Eola Park — One Eleven has attracted numerous commercial tenants since opening in 2008. Current commercial tenants include Ocean Bank, Atwell Engineers and National Society of Leadership and Success. The property features nine levels of parking, roughly 11,000 square feet of ground-floor retail, and 164 luxury one-, two- and three-bedroom apartment units.
Lincoln Orlando Holdings is a limited liability company that is a subsidiary of Lincoln Property Company (LPC), a residential and commercial real estate development and property management firm. LPC’s portfolio stretches across 32 states and exceeds 100 million square feet.
Lincoln Property Company did not respond to a request for comment.
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