2005 Transactions
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 and Tony Kolomayets, both Senior
Directors 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
Tony Kolomayets
Senior Director
Email: tkolomayets@tremontcapital.com
Phone: 312.236.0970
