May 20, 2024

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Bank OZK provides $130M loan for South Tampa Project

1 min read

Belpointe OZ plans to use the funding to build a community of 424 units in downtown Sarasota.

Belpointe OZ has secured $130 millions in construction financing for The Aster & Links in downtown Sarasota. The loan was originated by Bank OZK

The development will include two high-rises with apartments of one, two, and three bedrooms, as well four-bedroom penthouses in the style of townhomes. The Aster & Links will feature a swimming-pool, a fitness centre, a community room, rooftop gathering areas and private dining spaces, outdoor grills, and a central courtyard. The 10 story buildings will have garages and surface parking for over 900 spots.

The community will include approximately 55,000 square foot of retail space on the ground floor. RE Business Online reports that Sprouts Farmers Market already has a lease for 23,000 square feet at Aster & Links.

The site, located at 1991 Main St. is in a neighborhood with many dining, shopping and entertainment options. The development is located right off Route 41 which gives direct access to Tampa and Fort Myers. Sarasota Bradenton International Airport, Downtown Park, and Mote Marine Laboratory & Aquarium can be found within a five-mile radius.

Bank OZK has recently provided 252 million dollars in construction financing to The Residences at $400 Central, an upcoming mixed-use tower in St. Petersburg. The community, developed by Red Apple Real Estate will include 301 luxury condos.

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