(Read more on the debt and equity markets.)
FORT MYERS, FL-Atlanta-based Songy Partners LLC has secured a $29-million construction loan for the first two office buildings at Forum Corporate Park on Interstate 75 between SR-82 and Colonial Boulevard. Songy acquired 41.5 acres for the project, which calls for up to 460,584 sf in seven buildings, in November.
CBRE Melody South Florida office managing director Charles Foschini, CB Richard Ellis Institutional Group vice chairman Christian Lee and CBRE Melody vice president Christopher Apone arranged the financing through a correspondent lender on behalf of Songy Partners. Atlanta-based Cooper Carry is the architect of record for the project, Owen-Ames-Kimball Co. is the general contractor and Johnson Engineering is the civil engineer.
Forum Corporate Park is part of a 706-acre mixed used development called the Forum at Fort Myers. The project is being undertaken by ABG LLC, a company led by Miami Heat basketball coach Pat Riley. Work began on the development in 2003.
Songy Partners recently signed Rasmussen College, Inc. to a 10-year lease for 18,500 sf at one of the buildings, a three-story 60,000-sf building located at 9160 Forum Corporate Parkway. The building is expected to be completed in February 2008. A second, four-story, 80,000-sf building is expected to be completed by the end of 2008. No leases have been signed at the second building.
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