{"id":1004297882,"date":"2019-02-12T03:21:03","date_gmt":"2019-02-12T11:21:03","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004297882"},"modified":"2019-02-12T03:21:03","modified_gmt":"2019-02-12T11:21:03","slug":"south-fl-development-lands-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/south-fl-development-lands-financing\/","title":{"rendered":"South FL Development Lands Financing"},"content":{"rendered":"<div id=\"attachment_1004297900\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Mandalay-Bay-Resort.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004297900\" data-attachment-id=\"1004297900\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/south-fl-development-lands-financing\/mandalay-bay-resort\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Mandalay-Bay-Resort-e1549882676361.jpg\" data-orig-size=\"638,478\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Mandalay Bay Resort\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Mandalay-Bay-Resort-e1549882676361.jpg?w=638\" class=\"wp-image-1004297900 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Mandalay-Bay-Resort-e1549882676361.jpg\" alt=\"Mandalay Bay Resort site\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Mandalay-Bay-Resort-e1549882676361.jpg 638w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Mandalay-Bay-Resort-e1549882676361.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004297900\" class=\"wp-caption-text\">Mandalay Bay Resort site<\/p><\/div>\n<p>GNP Development Partners has received a $2.2 million&nbsp;bridge loan to acquire five neighboring parcels that total 3.8 acres in Key Largo, Fla. LV Lending, a local private lender, secured the financing.<\/p>\n<p>Located at 80 E. Second St., on the south Atlantic side of Overseas Highway, the&nbsp;164,369-square-foot vacant land will serve as the construction site for Mandalay Bay Resort, a 40,000-square-foot facility featuring a 25-key hotel, an Island Grille waterfront restaurant as well as a dive shop and full-service marina.<\/p>\n<p>GNP Development&nbsp;intends to use part of the financing to start construction, while the rest of it will allow the borrower to reimburse an existing loan and secure an SBA loan for the remaining construction. LV Lending Partner &amp; CEO Camilo Ni\u00f1o, Partner Ricardo Uribe and Commercial Director Alen Hernandez worked on behalf of GNP Development.<\/p>\n<p>In 2016, Marriott and AutographCollection Hotels opened <a href=\"https:\/\/www.commercialsearch.com\/news\/new-resort-spa-in-key-largo-opens-doors\/\">Playa Largo Resort &amp; Spa, a 144-room resort<\/a>&nbsp;developed by Prime Hospitality Group and Shaner Hotels in the same census-designated place in Monroe County.&nbsp;<\/p>\n<p><em>Image via Google Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The borrower plans to use the $2.2 million bridge loan secured by LV Lending to buy land and start construction of a 40,000-square-foot Key Largo resort. <\/p>\n","protected":false},"author":870,"featured_media":1004507794,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21825,21751,21742],"tags":[44096,44069],"class_list":["post-1004297882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-finance","category-hotel","category-latest","tag-gnp-development-partners","tag-lv-lending"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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