ORLANDO , FL
LV Lending announced the closing of $4.5 million in refinancing for a .9-acre vacant site at 322 E. Jackson St. in downtown Orlando. The refinancing was facilitated by Camilo Niño, Ricardo Uribe, and Alen Hernandez of LV Lending, on behalf of the borrower, Monarch of Orlando, an entity of The Jaymor Group. The closing took place on Aug. 13th. The property was acquired in 2005 for approximately $2.46 million. The Canadian-based developer received preliminary site plan approval to develop Monarch, a 28-story mixed-use building with 360 residential units, a 150-key hotel, a five-story parking garage, and 14,239 square feet of ground-floor retail space. All approvals are expected to be secured by the end of this year with groundbreaking slated for Q4 2021. “We are pleased to be the financial partner to this well-respected and distinguished team,” stated Camilo Niño, principal, LV Lending. “The Jaymor Group brings over 30 years of development experience and an impressive portfolio of completed and successful projects. We are confident they have found an ideal location for this exciting endeavor and are bringing the right product types to this market.” Established in 1989, The Jaymor Group is a real estate investment, asset management and development firm featuring a combination of mixed-use, multifamily, hospitality, retail, and student community developments. The Jaymor Group has been involved in all facets of real estate including the acquisition, rehabilitation, development, and disposition of properties. Its North American developments and holdings are valued at approximately $350 million. The firm maintains U.S. offices in Orlando and Daytona Beach and Canadian headquarters in Toronto.