Developer of former Bath & Racquet Club Sarasota property gets $79M loan

Silver Sky Global Capital, the development company behind the new Bath + Racquet Residences & Club in Sarasota, has taken out a $79 million construction loan for the project.

The floating rate loan was issued by Scale Lending and is for 30 months with two six-month extension options.

The financing will go toward the construction of the project on the site of the former Bath & Racquet Club at 2170 Robinhood St., which closed in 2021. The property is behind a Trader Joe’s and just south of Bee Ridge Road and U.S.