Developer secures $75 million construction loan for rental apartments in Sarasota

Courtesy of Unicorp

Tres Capital has announced a $75 million construction loan for 354 rental apartments in Sarasota.

The project, SOTA 75, will be built by Unicorp National Developments.

Located at 2301 Lakewood Ranch Boulevard, the project consists of double-decker and four-story buildings with separate garages, and studios, one-, two- and three-bedroom units.

A resort-style pool, outdoor lounge fitness center, resident lounge, and single-family garage are planned. Construction is expected to begin within a few weeks.

Lakewood Ranch is a 31,000-acre planned city that covers the northern part of Sarasota and Manatee counties. There are over 42,000 residents and over 17,000 jobs. The community includes a vibrant town center, A-rated schools, large medical centers, golf clubs, nature reserves, and Sarasota Polo clubs.


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