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Concord Summit Capital has closed $122 million in financing for a 55-plus luxury rental community under construction in Port St. Lucie, FL. 

Concord Summit Capital Closes $122 Million in Financing for Active-Adult Development

Concord Summit Capital has closed $122 million in financing for a 55-plus luxury rental community under construction in Port St. Lucie, FL.  The package includes a $95 million construction loan and $27 million in mezzanine debt for developers of the 415-unit Encore at Tradition.

The financing was arranged by Concord Summit Capital advisors David Larson, Daniel Eidson and Keegan Burger.

The project is being developed by America Walks at Port St Lucie, LLC, a partnership between the principals of Pride One Construction, Brokaw Development Services, and Riley Hotel Group. Headquartered in Cleveland, Ohio, the development team has constructed over 20,000 units collectively.  

The gated community is located within the Tradition master-planned community. It will offer 1- and 2-bedroom apartments ranging in size from 750 square feet to 1,250 square feet and 2-bedroom villas designed for 2,030 square feet.  Amenities include salon, restaurant, movie theater, and golf simulator.

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About Angela Noote

Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.

  • ◦Development
  • ◦Financing
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