Sarasota, FL $22,500,000 16 Unit Condominium Inventory Loan

Knighthead provided a $22.5mm first mortgage loan secured by 16  unsold condominium units.  The Blvd is an 18 story luxury condominium building containing 49 units in the heart of downtown Sarasota, FL. The loan was underwritten to a ~58% “as-is” value.