Gainesville, Florida-based Celebration Pointe Holdings LLC, the sponsor and owner of Celebration Pointe, a 1 million square foot plus mixed-use project located in Gainesville, Florida, has partnered with New York-based investment firm Arcis Capital Partners LLC (“ArcisCap”) to secure a $70 million revolving facility for the development of the project.
When fully complete, Celebration Pointe will be comprised of retail, dining, entertainment, hospitality, Class A office and residential space. The development’s first anchor tenants include Bass Pro Shops, which opened its doors in November 2016; locally-owned Info Tech, a national software company under development, will open its headquarters in the project in April 2017; a first-to-market luxury seating Regal Cinemas currently under development along with additional entertainment, retail and dining is slated to open November 2017; a 137-room Hotel Indigo which will break ground in March 2017 and open in early 2018 and a second multi-tenanted Class A office building, under development and set to open fall 2017. Additionally, the first phase of the project’s residential offering, some 350 luxury apartments, will open late 2017/early 2018.
Ralph Conti, co-managing partner with Celebration Pointe Development Partners, LLC, the exclusive development manager for the project, said, “We are very excited to lead with such quality tenants and to team up with New York-based Arcis Capital Partners, whose tremendous global capital markets experience has enabled us to secure this significant portion of our overall capital stack for the project.”
“Our vision for this project is uniquely different from anything currently available in the North Central Florida region. We seek to truly offer an un-paralleled guest and resident experience, there simply is not another like-kind piece of real estate in the region,” said Conti.
Celebration Pointe has been touted as the premier live, work and play mixed-use development of all of North Central Florida. The highly visible 125-acre development is located along Interstate 75 at Archer Road in the heart of Gainesville, Florida’s retail corridor. Celebration Pointe has begun delivering its diverse mix-of-uses along with the best attributes of an energized and engaging urban environment.
With all major infrastructure complete, including a new multi-modal bridge over Interstate 75, anchor tenant Bass Pro Shops celebrated a record-setting grand opening on November 9, 2016. The next phase of the project, currently under construction, is set to open in November 2017. The final phase of the mixed-use main street retail is slated to open in 2018.
Svein Drykolboton, co-managing partner with Celebration Pointe Development Partners said, “The Arcis Capital facility provides us with great flexibility that will allow us to execute our development business plan based on tenant demand and in line with our existing timeline and scope.”