PMG and MoneyShow Secure $208 Million Construction Loan for One Park Sarasota

PMG and MoneyShow are pleased to announce they have secured $208 million in construction financing for One Park Sarasota, the 18-story luxury condominium development located within Downtown Sarasota’s vibrant bayside community of The Quay. Financing was provided by RMWC. The transaction was led by PMG’s Capital Markets team including Andrew Warman, Jon Blank, and Paton Marion in coordination with in-house counsels Lowell Plotkin, Lindsay Davis, and Scott Buscemi. Wayne S. Cook, Jr. and Jack Conboy at Windels Marx Lane & Mittendorf, LLP and Sandra E. Krumbein at Shutts & Bowen LLP represented the lender, Randy Barcelo at Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. served as the borrower’s lead transactional counsel, G. Matthew Brockway and William Merrill of Icard Merrill served as land use counsel, Evan Wagowski at Greenberg, Trager & Herbst, LLP served as construction counsel, and Edward Vogler at Vogler, Ashton, PLLC provided counsel on organizational structure. One Park Sarasota broke ground in early October 2024 and is slated for completion in Q2 2027. Coldwell Banker Realty is the sales team for One Park Sarasota, with Chelsa Vahtomin and Robert Robinson exclusively representing sales.

“We are thrilled to once again receive the support of RMWC as we advance on bringing this premier resort-style destination to Downtown Sarasota,” said Dan Kaplan, managing partner at PMG. “RMWC has served as a trusted lender of ours across a number of projects in our portfolio throughout the years. It is rewarding to expand upon the strong relationships we’ve developed and once again receive their trust in delivering One Park Sarasota, a high-caliber development we are confident will make a lasting positive impact on The Quay and its community.”

Designed by Sarasota-based firm Hoyt Architects, known for their unique architectural spaces and experiential design, One Park Sarasota will include a selection of fully finished three-bedroom private residences that showcase breathtaking views of Sarasota Bay and the downtown skyline, as well as unobstructed views of The Bay Park. Residences offer a contemporary lighting package, fully built-out closets, fully integrated kitchens, imported and custom high-end Italian kitchen and bathroom cabinetry, and porcelain, marble, or wood flooring throughout. Additional residence highlights include expansive outdoor terraces with glass railing and summer kitchens, a midnight bar in primary bedrooms, and an unprecedented level of efficiency through PMG’s smart home technology experience. One Park Sarasota’s design will play a pivotal role in enhancing the city’s skyline, further solidifying the area as a premier bayfront destination.

In addition to the residences, One Park Sarasota will include a collection of both penthouse residences on the top floor and townhomes on the bottom two levels of the property. Both the townhouse and penthouse collections will give residents access to their own private rooftops, summer kitchens, and plunge pools to maximize the waterfront lifestyle.

“Securing this financing for One Park Sarasota once again demonstrates our commitment to delivering exceptional residences to Downtown Sarasota,” said Kim Githler, chair and CEO of MoneyShow. “The quality of One Park Sarasota’s upscale residences and resort-style amenities will ensure all future residents receive an unmatched lifestyle worthy of its incredible location. We look forward to continuing to work alongside PMG to create a dynamic community where residents can experience a blend of elegance, comfort and convenience in the heart of the city’s waterfront district.”

Resort-style amenities at One Park Sarasota will include an infinity-edge pool and spa deck with lounge areas, a One Park Wellness Spa with a Hammam Spa, private his and hers lockers, saunas, and steam rooms, dog walking services, a state-of-the-art fitness studio featuring the latest high-tech exercise equipment, pilates, yoga studio, and cycling rooms, a One Park club room and owner’s lounge, hospitality suites, a wine room, and a private theater.

To schedule an appointment at the One Park Sarasota sales gallery, located at 20 N. Lemon Avenue, please call 941-232-7032 or visit OneParkSarasota.com.