Concord Summit Closes $60M in Financing for Kissimmee Multifamily
Concord Summit Capital, LLC, has arranged $60 million in construction financing for Sunset Walk Apartments in Kissimmee, FL. Concord client Encore Capital Management is developing the 352-unit Class A residential project within the master-planned community of Sunset Walk.
The closed transaction includes a $45.59 million senior loan and $14.75 million in preferred equity. Concord Summit’s managing director Kevin O’Grady, director Justin Neelis and senior analyst Daniel Rojo sourced the financing.
Located on Fins Up Circle, Sunset Walk Apartments’ 352 units will be constructed within three- and four-story buildings. The community is the second multifamily phase of the broader mixed-use development.
Apartment residents will have full access to the resort’s amenity base, inclusive of the Fins Up Beach Club and restaurant offerings. They will also receive discounts at the Promenade at Sunset Walk’s retail shops and the water park.
Encore originally acquired the Sunset Walk site in 2013.
- ◦Development
- ◦Financing