Sunrise Realty Trust Commits $40.0 Million in Credit Facility for Luxury Golf Community in Palm Beach County
Sunrise Realty Trust (SUNS) has committed $40.0 million to a $160.0 million credit facility for the development of Panther National, a luxury golf community in Palm Beach Gardens, Florida. SUNS has already funded $27.5 million of its commitment. The project, sponsored by Centaur Holdings, spans 392 acres and features 218 residences, an 18-hole championship golf course designed by Jack Nicklaus and Justin Thomas, and various resort-style amenities.
The funding will support Phase II of the development, including construction of remaining residences, a 60,000 square foot clubhouse, Health & Lifestyle Club, and Tour Golf Performance Center. Current real estate sales have exceeded $300 million, indicating strong market appeal. SUNS CEO Brian Sedrish expressed excitement about the partnership, highlighting the company's focus on strong risk-adjusted returns in the Southern United States.
Sunrise Realty Trust (SUNS) ha impegnato 40 milioni di dollari in una linea di credito da 160 milioni di dollari per lo sviluppo di Panther National, una comunità golfistica di lusso a Palm Beach Gardens, Florida. SUNS ha già finanziato 27,5 milioni di dollari del suo impegno. Il progetto, sponsorizzato da Centaur Holdings, si estende su 392 acri e offre 218 abitazioni, un campo da golf a 18 buche progettato da Jack Nicklaus e Justin Thomas, e vari servizi stile resort.
Il finanziamento sosterrà la Fase II dello sviluppo, compresa la costruzione delle abitazioni rimanenti, un clubhouse di 60.000 piedi quadrati, un Health & Lifestyle Club e un Tour Golf Performance Center. Le attuali vendite immobiliari hanno superato i 300 milioni di dollari, indicando un forte interesse di mercato. Il CEO di SUNS, Brian Sedrish, ha espresso entusiasmo per la partnership, sottolineando l'attenzione dell'azienda su forti rendimenti corretti per il rischio nel sud degli Stati Uniti.
Sunrise Realty Trust (SUNS) ha comprometido 40 millones de dólares en una línea de crédito de 160 millones de dólares para el desarrollo de Panther National, una comunidad de golf de lujo en Palm Beach Gardens, Florida. SUNS ya ha financiado 27,5 millones de dólares de su compromiso. El proyecto, patrocinado por Centaur Holdings, abarca 392 acres y cuenta con 218 residencias, un campo de golf de campeonato de 18 hoyos diseñado por Jack Nicklaus y Justin Thomas, y varios servicios estilo resort.
La financiación apoyará la Fase II del desarrollo, incluyendo la construcción de las residencias restantes, un casa club de 60,000 pies cuadrados, un Health & Lifestyle Club y un Tour Golf Performance Center. Las ventas inmobiliarias actuales han superado los 300 millones de dólares, indicando un fuerte atractivo en el mercado. El CEO de SUNS, Brian Sedrish, expresó su entusiasmo por la asociación, destacando el enfoque de la empresa en rendimientos ajustados al riesgo en el sur de Estados Unidos.
Sunrise Realty Trust (SUNS)는 플로리다 주 팜 비치 가든에 위치한 고급 골프 커뮤니티인 Panther National 개발을 위해 1억 6천만 달러 규모의 신용시설에 4천만 달러를 투자했습니다. SUNS는 이미 약속된 금액의 2천7백50만 달러를 자금 지원했습니다. 이 프로젝트는 Centaur Holdings의 후원을 받으며, 392에이커에 걸쳐 218개의 주거시설과 잭 니클라우스 및 저스틴 토마스가 디자인한 18홀 챔피언십 골프 코스, 그리고 여러 리조트 스타일의 편의 시설을 제공합니다.
이번 자금 지원은 개발의 2단계에 기여할 것이며, 남아 있는 주거시설, 6만 평방피트의 클럽하우스, 헬스 & 라이프스타일 클럽, 투어 골프 성과 센터 건설을 포함합니다. 현재의 부동산 판매는 3억 달러를 초과하여 강력한 시장 매력을 나타냅니다. SUNS의 CEO인 브라이언 세드리시는 파트너십에 대한 기대를 표현하며, 남부 미국에서의 안정적인 위험 조정 수익에 대한 회사의 집중을 강조했습니다.
Sunrise Realty Trust (SUNS) a engagé 40 millions de dollars dans une facilité de crédit de 160 millions de dollars pour le développement de Panther National, une communauté de golf de luxe à Palm Beach Gardens, en Floride. SUNS a déjà financé 27,5 millions de dollars de son engagement. Le projet, sponsorisé par Centaur Holdings, s'étend sur 392 acres et propose 218 résidences, un parcours de golf de championnat de 18 trous conçu par Jack Nicklaus et Justin Thomas, ainsi que divers équipements de style resort.
Le financement soutiendra la phase II du développement, y compris la construction des résidences restantes, d'un clubhouse de 60 000 pieds carrés, d'un Health & Lifestyle Club et d'un Tour Golf Performance Center. Les ventes immobilières actuelles ont dépassé 300 millions de dollars, indiquant un attrait fort sur le marché. Le PDG de SUNS, Brian Sedrish, a exprimé son enthousiasme pour ce partenariat, soulignant l'importance pour l'entreprise de réaliser des rendements ajustés au risque dans le sud des États-Unis.
Sunrise Realty Trust (SUNS) hat sich mit 40 Millionen US-Dollar an einer 160 Millionen US-Dollar umfassenden Kreditfazilität für die Entwicklung von Panther National, einer Luxus-Golfgemeinschaft in Palm Beach Gardens, Florida, beteiligt. SUNS hat bereits 27,5 Millionen US-Dollar seines Engagements bereitgestellt. Das von Centaur Holdings gesponserte Projekt erstreckt sich über 392 Acres und umfasst 218 Wohnhäuser, einen 18-Loch-Meisterschaftsgolfplatz, der von Jack Nicklaus und Justin Thomas entworfen wurde, sowie verschiedene Annehmlichkeiten im Resort-Stil.
Die Finanzierung wird die Phase II der Entwicklung unterstützen, einschließlich des Baus der verbleibenden Wohnhäuser, eines 60.000 Quadratfuß großen Clubhauses, eines Health & Lifestyle Clubs und eines Tour Golf Performance Centers. Der aktuelle Immobilienverkauf hat 300 Millionen US-Dollar überstiegen, was auf eine starke Marktattraktivität hinweist. Der CEO von SUNS, Brian Sedrish, äußerte sich begeistert über die Partnerschaft und hob den Fokus des Unternehmens auf starke risikoadjustierte Renditen im Süden der Vereinigten Staaten hervor.
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WEST PALM BEACH, Fla., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS” or the “Company”) today announced that it has committed
Panther National is a 392-acre gated community located in Palm Beach Gardens, FL, featuring 218 residences along with additional villas and suites. At the heart of this community is an 18-hole championship golf course designed by Jack Nicklaus and Justin Thomas, complemented by a par-3 course and practice areas completed in November 2023.
Panther National offers an array of resort-style amenities. The community's current real estate sales have surpassed
The capital provided by SUNS will be utilized for Phase II of the development, which includes the construction of:
- The remaining residences
- 60,000 square foot clubhouse featuring a fitness center, wine tower with wine bar, locker rooms, member lounges, and Michelin-inspired fine dining restaurants
- Health & Lifestyle Club, encompassing a European-influenced spa, racquet center, swimming pools and yoga studio
- Tour Golf Performance Center with fully air-conditioned hitting bays equipped with shot tracing technology and putting studio.
"We are excited to partner with Centaur for this exciting new development in our home state of Florida," said Brian Sedrish, CEO of SUNS. "Investing in opportunities that provide strong risk-adjusted returns across the Southern United States remains a strategic focus for us. We believe Panther National is set to become a premier luxury golf community in Palm Beach County, meeting the high demand for upscale residential living."
"In our view SUNS’ investment aligns well with Panther National’s needs, ensuring the project's successful completion. Witnessing my vision come to life is a profound reward," said Dominik Senn, Founder and President of Panther National. "Together, I believe we are setting a new standard for luxury golf communities in South Florida."
About Sunrise Realty Trust, Inc.
Sunrise Realty Trust, Inc. (Nasdaq: SUNS) is an institutional commercial real estate lender providing flexible financing solutions for sponsors in the Southern United States. We focus on transitional commercial real estate business plans with opportunities for near-term value creation, collateralized by top-tier real property assets in established Southern cities and cities presenting strong growth fundamentals. For additional information regarding the Company, please visit www.sunriserealtytrust.com.
About Panther National
Panther National is the first modern golf and lifestyle community to debut in Palm Beach County in nearly two decades. Developed by founder and president Dominik Senn, Panther National combines 218 custom, modern estates designed by world-renowned architect Max Strang with a Jack Nicklaus and Justin Thomas signature championship golf course and premium community amenities and social facilities. For more information, visit www.panthernational.com.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the Company’s current views and projections with respect to, among other things, the development of Panther National, Panther National becoming a premier luxury golf community in Palm Beach County, and meeting the high demand for upscale residential living. All statements other than statements of historical fact are forward-looking statements. The Company’s forward-looking statements are generally accompanied by words such as “intend,” “will,” “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “potential,” “plan,” “goal” or other words that convey the uncertainty of future events or outcomes. Forward-looking statements contained in this press release speak only as of the date of this press release. The Company disclaims any obligation to update these statements unless required by law, and the Company cautions you not to rely on them unduly. The Company has based these forward-looking statements on its current expectations and assumptions about future events, which the Company considers reasonable. However, these forward-looking statements are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and beyond the Company’s control. Certain factors, risks and uncertainties discussed under the caption “Risk Factors” and elsewhere in the Company’s registration statement on Form 10, available on the SEC’s website, could cause actual results and performance to differ materially from those set forth in or implied by such forward-looking statements.
Investor Relations Contact:
Robyn Tannenbaum & Lana Ping
561-510-2293
ir@sunriserealtytrust.com
Media Contact:
Profile Advisors
Rich Myers & Rachel Goun
347-774-1125
rmyers@profileadvisors.com
Development Contact:
Panther National
Sharon Miller
215.435.0025
miller@panthernational.com
Development Media Contact:
C&R PR
Rachael Moss
504.717.1550
rachael@candrpr.com
FAQ
How much has Sunrise Realty Trust (SUNS) committed to the Panther National project?
What is the total amount of the credit facility for Panther National?
Where is the Panther National project located?
What will be included in Phase II of the Panther National development?
How much have the current real estate sales at Panther National reached?
