Florida & Gulf Coast + North Florida + Apartments | June 10, 2021

Avison Young Secures $30M Construction Loan for Daytona Beach Vacation Rental Project

Avison Young has arranged a $30 million construction loan to develop MAX Daytona, a 72-unit vacation rental project at 1901 S. Atlantic Avenue in Daytona Beach Shores.

MAX Daytona will feature a full-height glass exterior, open floor plans with oversized private outdoor living spaces, rooftop terraces, mobile and contactless self-check-in, cloud-based operations and several in-suite conveniences such as fully-equipped laundry and kitchen areas.

George Vail led a team from Avison Young that sourced the loan on behalf of Bayshore Capital Inc., a Toronto-based real estate development and investment firm. Bayshore Capital had acquired land with over 2,100 linear feet on the ocean, including the MAX Daytona site, plus five acres of commercial property west of State Road A1A in the Daytona Beach market. The lender was an undisclosed bank.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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