Concorde Group Holdings LLC borrowed $33 million to acquire a retail center in Orlando.
The property, Dellagio Town Center, is an upscale shopping and dining destination spanning 109,890 square feet. It is adjacent to Residences at Dellagio, an 83-unit residential development.
Dellagio Town Center is 96 percent leased, and its tenants include such restaurants as Big Fin Seafood, Bravo, Dragonfly, Flemings and Urbain 40.
Concorde got financing for its acquisition of Dellagio Town Center in the form of a $28 million senior mortgage loan from Citi Global Markets and a $5 million mezzanine loan from Morrison Street Capital.
Delray Beach-based Dockerty Romer & Co., a commercial mortgage banking firm, arranged the acquisition financing for Concorde.
Concorde is a commercial real estate developer that focuses on revitalizing existing properties. The firm owns and operates more than 600,000 square feet of commercial real estate in the Southeast region of the United States and Puerto Rico. – Mike Seemuth