Harmony Cove Holdings, LLC Acquires Site for $14.6 Million
MIAMI (April 26, 2021)–LV Lending, a local private lender focused on bridge loans for commercial and residential investment properties and developments, today announced the closing of approximately $8 million in financing for the acquisition and pre-development of a 13-acre site located at 7250 Jarmony Square Dr. in the Harmony community of St. Cloud, FL.
Harmony Cove Holdings, LLC, led by Eyal Mehaber and Yaniv Nakash, acquired the property from Compass Trading Company, LLC and Harmony Retail LLC for $14.6 million. Financing was arranged by Camilo Niño, Ricardo Uribe, and Alen Hernandez of LV Lending. Closing took place April 1st.
LV Lending’s loan was used for the acquisition of the property and will also go toward predevelopment fees for Harmony Luxury Apartments, an approved 295-unit luxury mid-rise apartment community.
Harmony Luxury Apartments features five, five-story buildings comprising one-, two- and three-bedroom units with an average unit size of 963 square feet. Apartments come with walk-in closets, stainless steel appliances, vinyl plank flooring in living areas, washer and dryer, microwave and dishwasher. In addition to the onsite pool, residents will have access to the Harmony Clubhouse across from Five Oaks Drive where they will enjoy a fitness center, restaurant and golf club. The clubhouse, immediately west of the pool area, will be constructed in the future along with buildings three and four.
The site is located at the southeast corner of Five Oaks Drive and Sebastian Bridge Lane with easy access to the Florida Turnpike to the west, East Lake Tohopekaliga to the north, Holopaw Road to the east and Deer Run Road to the south.
The master-planned community of Harmony is surrounded by a professional 18-hole golf course and nearly 1,000 acres of natural lakes, numerous playgrounds and community parks, an interconnected bikeway and pedestrian path system, a Town Center with restaurants and retailers, and top-rated schools. The City of
St. Cloud is just 10 miles from Orlando International Airport and 20 miles from Orlando’s Central Business District.
This is the second loan transaction LV Lending has completed with the developers. In 2021, LV Lending closed $4.75 million for their acquisition of 45 acres of land on East Bronson Memorial Highway, also in St. Cloud. For more information, call LV Lending at (305) 523-6576, email at [email protected] or visit www.lvlending.com.
About LV Lending
LV Lending is a Miami-based private lender focused on bridge loans for commercial and residential investment properties and developments. The company has a current servicing portfolio of nearly $300 million and has overseen more than 550 transactions for $600 million in Florida and Georgia. Founded in 2015, LV Lending prides itself on its team’s approachability, fast closings and high level of transparency LV Lending is an affiliate of Linkvest Capital, Linkvest Properties, LV Development and Milenio. For more information on LV Lending, call (305) 523-6576, email at [email protected] or visit www.lvlending.com. NMLS # 1291885.