Sunrise Realty Trust commits $40M in credit facility for Florida golf community

Sunrise Realty Trust has committed $40.0 million of which the Company funded $27.5 million in a credit facility for the development of Panther National, a residential and golf community in Palm Beach Gardens, Florida. Two affiliated entities also committed an aggregate of $120.0 million for a total facility amount of $160.0 million. The Project sponsor is Centaur Holdings. Faisal Ashraf, Managing Partner of Lotus Capital Partners, arranged and structured the financing on behalf of Centaur. 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 $300 million, reflecting its appeal and attractive lifestyle. 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.