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.