Loan Request for Commercial loan in Ponte Vedra Beach, FL, 32082

Request #3697726 by Lender

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10/20/2023 6:00:46 PM
Ponte Vedra Beach, FL, 32082, USA Show Map
Commercial
$16,000,000
$9,600,000
$11,000,000
68.75 %
740-749
Refinance all
The immediate need is to pay off the current lender at $9.6MM and the MCAs at $750K. Additional funds will be used for infrastructure improvements including a new roof ($300K), a new beach bar ($250K), aesthetic upgrades to the club, new pool furniture, and renovations to the locker rooms at the family pool. The Beach Club, a private beach club located in Ponte Vedra, Fl. was appraised at $16.1MM by CBRE in Oct 2022. The club boasts a 26,000 sq ft facility under roof, with 18,000 sq ft under air, housing a restaurant, cafe, fitness center, banquet facilities, and two pools. The property also includes an additional 2.6-acre parcel used for overflow parking and holds 70 entitlements for potential hospitality or short-term rentals.

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