Legion Capital Announces Florida Land Development Sale To KB Home

Rhea-AI Summary

Legion Capital (LGCP) sells 19.05 acres in Kissimmee, FL to KB Home (KBH) within the Harmony community. The property, zoned CT, allows for various construction types. Legion expects single-family homes on the site, adjacent to Champions Gate. The area has seen growth due to Central Florida's population rise.

ORLANDO, Fla., March 28, 2024 (GLOBE NEWSWIRE) -- Legion Capital Corporation (LGCP), a private equity real estate lender, announced the sale of 19.05 acres within the Harmony master planned community in Kissimmee, FL. Sold to KB Home (KBH), conjointly with a tenured client and borrower of Legion Capital, the parcel is zoned CT, Commercial Tourist by Osceola County which allows numerous forms of multi-family, condominium, short-term rental, retail, and lodging facility construction.

“We are pleased to announce the successful sale of the Harmony site,” said Paul Carrazzone, chief executive officer of Legion Capital. “We take pride in working closely with our borrowers through all phases of project development, and while this transaction tested our team’s creativity, they skillfully effectuated a timely closing and monetization event beneficial to all parties.”

Platted for 58 lots, Legion expects the property to be completed with single family homes, which is congruent with the surrounding developments. It is adjacent to Champions Gate, an upscale mixed-use resort destination comprising of single-family home neighborhoods, two world-class golf courses designed by hall of fame golfer Greg Norman, and numerous restaurants, office spaces, and shopping locations. The area has experienced sustained growth and development over the years as Central Florida’s population has continued to rise.

Legion Capital Corporation provides senior financing for middle market real estate developers. The firm originates bridge funding, acquisition finance, development, and growth capital.

About Legion Capital

Legion Capital (LGCP) is a private equity real estate lender providing growth capital to small and medium sized companies and real estate developers. Legion provides bridge funding, acquisition finance, development, and growth capital in a highly customized and expeditious manner, addressing a large and growing segment of small business lending that is under-served by banks and institutions.

Legion Capital serves our Investors and Financial Advisors through a suite of diversified equity and debt investment products, many of which offer attractive yields, non-correlation to traditional financial markets, and defined liquidity dates. For more information, please visit www.LegionCapital.com.

Disclaimer:

Certain statements that we make in this information piece may constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions.  In addition, words such as “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates,” “projects,” “forecasts,” and future or conditional verbs such as “will” “may,” “could,” “should,” and “would,” as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements.  We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks described in any Offering Documents associated with this information piece. We expressly disclaim any obligation to update any forward-looking statement in the event it later turns out to be inaccurate, whether the result of new information, future events or otherwise. Legion is a private lender, and not a member of FINRA or FDIC.

Media Contact:
Jamison Lenczyk
Investor Services Manager
Legion Capital
jamisonl@legioncapital.com
407-720-4616

FAQ

What is the ticker symbol for Legion Capital ?

The ticker symbol for Legion Capital is LGCP.

Where was the 19.05-acre property sold by Legion Capital located?

The property was sold within the Harmony master planned community in Kissimmee, FL.

Who was the buyer of the 19.05-acre property sold by Legion Capital ?

KB Home (KBH) was the buyer of the 19.05-acre property.

What type of zoning does the sold property have?

The sold property is zoned CT, Commercial Tourist by Osceola County.

What types of construction are allowed on the zoned property?

The zoned property allows for multi-family, condominium, short-term rental, retail, and lodging facility construction.

What does Legion Capital expect the property to be completed with?

Legion Capital expects the property to be completed with single family homes.

What is the significance of the property's location being adjacent to Champions Gate?

The property's location adjacent to Champions Gate offers access to an upscale mixed-use resort destination.

What type of financing does Legion Capital provide for real estate developers?

Legion Capital provides senior financing for middle market real estate developers, including bridge funding, acquisition finance, development, and growth capital.