EBSC Lending provided a $27.1 million construction loan for a new multifamily community in Orlando. The fully entitled project is scheduled for completion in 2027. Construction is set to begin immediately.
EBSC Lending arranged financing at an 8.75% interest rate, providing leverage at 80% loan-to-cost and 70% loan-to-stabilized value. The loan carries an initial term of 2 years, with two extension options, and funds the project’s development budget through lease-up following commencement of operations.
Situated on an approximately 25-acre site, the community will feature 45 residential units, including 11 studios, 19 one-bedroom units and 15 two-bedroom units ranging from 950 to 1,200 square feet. Ten units are designated as affordable housing.
