Harrison Sale McCloy Attorneys at Law and Summit Bank NA close over 25 Million Dollar Commercial Real Estate Deal
The strong commercial real estate market and development growth in Bay County Florida continues. This combination brought together lender Summit Bank with closing agent Harrison Sale McCloy to close a syndicated loan for a 288-unit apartment complex project to be built at 7250 U.S. HWY 98 in Panama City Beach, Florida.
Records show that Harrison Sale McCloy Attorneys at Law prepared the mortgage and related loan documents to close the $25,600,000.00 loan covering the development with lender Summit Bank leading the financial coordination of work with four additional Florida banks. This 14-building complex is contracted to be built by Concept General Contracting, Inc. and the architect listed is BD/A Architects, Inc. both of San Antonio, Texas.
“Although there can be challenges with closings where there are so many different entities involved, good partnerships and experience certainly are the keys to successfully bringing all the pieces together,” says Franklin Harrison Founding Partner of HSMC. “It is exciting to see the commercial market in Northwest Florida excelling from Destin to Panama City without of market investors and developers wanting to expand in this marketplace. It’s a good time to build here with the entrepreneurial and tech concentration catching.”
The deal closed in Panama City, Florida after several months of work between the five banks and the commercial real estate division of Harrison Sale McCloy.
About Harrison Sale McCloy Attorneys at Law
Founded in 1983, Harrison Sale McCloy Attorneys at Law is a full-service law firm with three offices in Northwest Florida. The HSMC areas of practice include Business & Commercial Law, Civil & Commercial Litigation, Employment Law, Health & Hospital Law, Insurance Defense, Local Government, Mediation and Dispute Resolution, Probate & Estate Planning, Real Estate & Land Use, Wealth Preservation. Firm locations include Panama City, Destin and Santa Rosa Beach, Florida. Additional information about the firm and attorneys may be found online: www.HSMcLAW.com