Orlando, Florida (PRWEB) December 09, 2014
Todd F. Cohen of Cohen Real Estate Capital LLC, a 8-yr old commercial real estate company located in downtown Orlando, arranged $30,000,000 in non-recourse debt and equity financing for the acquisition and development of a 250-unit mixed-use apartment and retail development in downtown Clearwater, Pinellas County, Florida. The total debt and equity provided is over 90% of the project capital stack. The financing package included a significant equity investment from a Florida-based fund having its investors qualified under the requirements of the United States Citizenship & Immigration Services EB-5 Immigrant Investor Program due to the project being located in a high employment area and also having significant job creation associated with the construction and operation of the project. Total jobs created are estimated to be over 200. The developers are a partnership between Tampa-based Forge Capital Partners and Orlando-based Prospect Real Estate Group, both having significant investments in the Central Florida and Tampa Bay areas.
CREC also recently sold three downtown Orlando investments for a combined $2,700,000 consisting of a 3,500 SF mixed-use building in Thornton Park and 14 multi-family units in downtown Orlando. These three investments had hold periods each of one to two years on average and provided in excess of 100% returns from acquisition to disposition to its investors. New direct loans and other investments are being made by our sister company Caboose Capital LLC - http://www.caboosecapital.com
Cohen Real Estate Capital has facilitated the purchase and sale of nearly $350 million in commercial real estate since 2011 secured by over 900 for-sale condos, 1,000 rental apartments, 140 hotel rooms and 750,000 SF of commercial space in Florida and Puerto Rico.