Synovus Bank Lends $45M for Orlando-Area Retail Center Acquisition 

Orion Real Estate Group has secured $45 million of acquisition financing for the purchase of a shopping center in Florida’s Polk County near Orlando, Commercial Observer has learned.

Synovus Bank supplied the loan for Orion’s $63.5 million acquisition of the Posner Commons in Davenport, Fla., from PREP Property Group, sources familiar with the deal told CO. 

BayBridge Real Estate Capital arranged the financing with a team consisting of Jay Miller, Spencer Miller, AJ Felberbaum and Noah Rothman.

Colliers facilitated the sale with a team comprised of Brad Peterson, Whitaker Leonhardt and Eric AmRhein working on behalf of PREP Property Group.

Located at 1300 Posner Boulevard about seven miles south of Disney World, Posner Commons includes anchor tenants Ashley Furniture, Best Buy, Dick’s Sporting Goods and JCPenney. 

The 460,565-square-foot shopping center was built in 2008, and Prep Property Group bought it in 2018 for an undisclosed purchase price, Shopping Center Business reported.

Officials at Synovus Bank, Orion Real Estate Group and BayBridge did not immediately return requests for comment.

Andrew Coen can be reached at acoen@commercialobserver.com.