Florida-based developer Urban Network Capital Group (UNCG) has acquired a $24 million construction loan from LV Lending to develop The Flats Orlando, a 1.9-acre condo-hotel resort near Orlando’s central area. The development is a collaborative effort with ZKC and Tivoli Cove Capital. The project is expected to be completed by 2025.
Urban Network Capital Group (UNCG), in collaboration with Vertical Developments, has acquired a land parcel in the Edgewater neighborhood of Miami’s urban core at 3618 Northeast 5th Avenue. The transaction closed for $13.5 million, with the previous owner being Hotelex Midtown LLC, an affiliate of Hotelex Group. The 4,725-square-foot parcel is zoned T6-24a-O, permitting a structure of up to 24 stories. The partnership between UNCG and Vertical Developments plans to develop a condo-hotel tower on the property; details have not yet been disclosed. Alfonso Jaramillo from Fortune International Realty represented the buyers in the deal.
Urban Network Capital Group (UNCG) has announced the closure of a $26.7 million construction loan for its Visions Orlando community Phase I & II. The development is located at 7007 Osceola Polk Line Rd. in Davenport, FL, just 20 minutes from Walt Disney World. LV Lending, a private lender focused on bridge loans for commercial and residential investment properties and developments, provided the financing for the project. Camilo Niño, Ricardo Uribe, and Alen Hernandez of LV Lending arranged the loan.
Urban Network Capital Group (UNCG), led by real estate veteran Robert Thorne, has launched Visions Orlando, a $170 million multi-faceted, mixed-use, wellness-certified, eco-friendly luxury vacation hotel community. The 42-acre, gated-access community is located at 7007 Osceola Polk Line Road in Davenport, Florida, less than 20 minutes from Walt Disney World and surrounded by attraction parks, golf courses, and shopping destinations. Construction of the initial phase of the single-family homes and townhouses is scheduled to begin in Q2 2023, with initial completions in Q2 2024, including the hotel component.