Developer obtains $47M loan for apartment conversion at Bradenton mall

  • By Louis Llovio
  • | 3:50 p.m. August 5, 2024
  • | 0 Free Articles Remaining!
A North Carolina developer will build 240 apartments on property that was once part of DeSoto Square Mall.
A North Carolina developer will build 240 apartments on property that was once part of DeSoto Square Mall.
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  • Manatee-Sarasota
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A North Carolina developer has secured a $47 million loan to build an apartment community on the site of the former DeSoto Square Mall in Manatee County.

Madison Capital Group, the developer, says the construction loan allows it to begin work on the planned 240-unit community immediately, with plans to finish it in early 2026.

The loan was from the Peachtree Group.

 

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