Celebration Pointe secures $125 million loan

Gainesville, Fla. - The developer of Celebration Pointe, a 225-acre mixed-used regional development located in Gainesville, Florida, has secured a $125 million construction loan for Phase I of the project. Celebration Pointe partner Ralph Conti made the announcement.



“We are very pleased to have secured this key piece of our capital stack,” said Celebration Pointe partner Ralph Conti.



Financing for Phase I was secured by Los Angeles-based commercial real estate investment banking firm George Smith Partners.



The one-million-plus-square-foot Celebration Pointe will feature a mix of approximately 400,000-sq.-ft. of entertainment, outlet retail and restaurant uses. Anchored by Bass Pro Shops and a 10-screen Regal luxury theatre, the project will also contain approximately 350,000-sq.-ft. of Class-A office space, including the new home of transportation software provider Info Tech. The development will include a new 137-room Hotel Indigo, which will introduce the area’s first branded boutique hotel experience. When fully built out, the project will also contain a significant mix of first-to-market residential units as well.



Site preparation began in August 2014 and public infrastructure work commenced in April 2015. Phase I of Celebration Pointe is slated to open in fall 2016.