Canadian-based Developer Plans to Deliver 360 Residential Units, 150-Key Hotel and Over 14,000 SF of Retail
MIAMI (August 17, 2020)–LV Lending, a local private lender focused on residential and commercial investment properties, today announced the closing of $4.5 million in refinancing for a .9-acre vacant site at 322 E. Jackson St. in downtown Orlando. The refinancing was facilitated by Camilo Niño, Ricardo Uribe and Alen Hernandez of LV Lending, on behalf of the borrower, Monarch of Orlando, an entity of The Jaymor Group. Closing took place Aug. 13th.
The property was acquired in 2005 for approximately $2.46 million. The Canadian-based developer received preliminary site plan approval to develop Monarch, a 28-story mixed-use building with 360 residential units, a 150-key hotel, a five-story parking garage, and 14,239 square feet of ground-floor retail space. All approvals are expected to be secured by the end of this year with groundbreaking slated for Q4 2021.
“We are pleased to be the financial partner to this well-respected and distinguished team,” stated Camilo Niño, principal, LV Lending. “The Jaymor Group brings over 30 years of development experience and an impressive portfolio of completed and successful projects. We are confident they have found an ideal location for this exciting endeavor and are bringing the right product types to this market.”
Established in 1989, The Jaymor Group is a real estate investment, asset management and development firm featuring a combination of mixed-use, multifamily, hospitality, retail and student community developments. The Jaymor Group has been involved in all facets of real estate including the acquisition, rehabilitation, development and disposition of properties. Its North American developments and holdings are valued at approximately $350 million. The firm maintains U.S. offices in Orlando and Daytona Beach and Canadian headquarters in Toronto.
For more information, please visit http://www.jaymorgroup.com.
For more information on LV Lending, call (305) 523-6576, email
[email protected] or visit www.lvlending.com. For further information on The Jaymor Group, please contact Michael Sarnese, Vice-President of Business Development at (416) 727-8177 or [email protected].
About The Jaymor Group
The Jaymor Group is a real estate investor, developer and asset manager with offices in Florida and Toronto. Established in 1989, Jaymor’s activities have included mixed-use, multi-residential, condominium, hospitality, retail, student communities and specialty developments. Its mandate is to identify unique opportunities typically overlooked by others. The organization has been involved in all facets of real estate including the acquisition, rehabilitation, development and disposition of numerous properties. Included in this are twenty-two apartment communities in the U.S. sunbelt region with over 6,000 rental units, multiple university student housing communities in Florida and North Carolina with over 2,000 beds, high-rise luxury oceanfront condominiums in Florida and mixed-use projects in Toronto. In addition to its existing assets, Jaymor has multiple development projects currently underway or in the planning stages in the U.S. and Canada. The U.S. development sites consist of multiple locations in Daytona Beach and Orlando, with Canadian sites located in Toronto and areas north of the city; http://www.jaymorgroup.com.
About LV Lending
LV Lending is a Miami-based private lender focused on real estate business and investment mortgage loans on residential and commercial properties. The company has a current servicing portfolio of $187 million and has overseen more than 462 transactions for $353 million in Florida and Georgia. Founded in 2013, LV Lending prides itself on its team’s approachability, fast closings and high level of transparency. LV Lending is an affiliate of Linkvest Capital.