2005 Transactions

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Tremont Advises in Financing $145,000,000Condo Development

Tremont Realty Capital advised the owners in structuring the capitalization of a $145 million Florida construction project. Tremont represented Churchill Development Group LLC and Westminster Partners LLC, developers of The VUE at Lake Eola, a 35-story condo tower in downtown Orlando. The VUE is a state-of-the-art, luxury property with all of the expected amenities, as well as, novel ones such as the "pet walk" on the seventh level where residents can walk their pets without leaving the building and an "amenity deck" next to the tennis courts. The building also offers biometric fingerprint scans at all points of "resident-only" entry. More than 80 percent of the 384 units at The VUE at Lake Eola were sold before construction started. The VUE is scheduled for completion in early 2007.

Michael Hart, Senior Director with Tremont's Chicago office, represented Tremont in this transaction. Hart noted, "We had a very sophisticated borrower with a powerful project. Our objective was to make sure we canvassed the entire capital market spectrum to provide the right structure for this deal. In the end we were pleased that the construction/mezz loan put in place provided optimal capital for our client."

For additional information on this transaction, please contact:

Michael Hart
Senior Director
Email: mhart@tremontcapital.com
Phone: 312.236.1162