New York, NY, May 19, 2019 --(PR.com
)-- Locust Park Capital has secured a $12 million loan to refinance a seven-story mixed use building in the Central Business District of Orlando, Florida. The recently renovated building was fully leased at the time of financing. Kenneth Lee of Locust Park arranged the five-year loan with a fixed rate of 4.370 percent for the unnamed borrower. The Lender was an unnamed life insurance company.
According to Mr. Lee, lending activity in the area has been robust: "Locust Park was able to arrange this loan with such favorable terms due to the Central Business District's strong leasing environment, as business owners are favoring low-tax Florida over high-tax and high-regulation states like New York and California."
Locust Park Capital is a real estate investment banking and capital advisory business headquartered in New York, NY. Founded in 2018 by accomplished principals with over 30 years of combined experience, the company specializes in arranging sponsor equity and debt financing for developers, funds, and family offices both domestically and in Europe.