CIVITAS CAPITAL GROUP PROVIDES $386 MILLION CONSTRUCTION LOAN FOR INTERCONTINENTAL ORLANDO

Site work is underway for the financed hotel, with completion expected in the third quarter of 2029.

Rhea-AI Summary

JLL (JLL) advised Flag Luxury Group and Unicorp National Developments on a $386 million construction loan for InterContinental Orlando.

Civitas Capital Group provided the senior construction loan for the planned 700-room hotel on Orlando's International Drive. JLL Hotels & Hospitality Group served as the developers' advisor. Site work is underway, with vertical construction expected to begin in the first quarter of 2027 and completion expected in the third quarter of 2029. FINFROCK will serve as general contractor.

The hotel is planned to include approximately 105,000 square feet of meeting and pre-function space, multiple food and beverage outlets, and a six-level garage with approximately 730 parking spaces. Unicorp said the financing allows construction to begin on the first phase of a multi-billion-dollar masterplan.

Positive

• Minor pointJLL Hotels & Hospitality Group served as developers' advisor on the completed $386 million financing.

Negative

• None.

Key Figures

Senior construction loan: $386 million Hotel capacity: 700 keys Vertical construction start: First quarter of 2027 +1 more

Senior construction loan

$386 million

Financing for the InterContinental Orlando

Hotel capacity

700 keys

Planned InterContinental Orlando hotel

Vertical construction start

First quarter of 2027

Expected milestone

Project completion

Third quarter of 2029

Expected completion

Key Terms

senior construction loan

1 terms

senior construction loan financial

"provided a $386 million senior construction loan to Flag Luxury Group"

A senior construction loan is the main short-term loan used to finance building a real estate project; it has first claim on the property and repayment priority over other debts while the project is under construction. Think of it as the lead lender holding the first mortgage and providing the cash to erect the building; its size, terms and priority affect how quickly other creditors or equity holders get paid and therefore influence project risk and potential returns.

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Financing advances construction of a 700-key luxury hotel on Orlando's International Drive, developed by Flag Luxury Group and Unicorp National Developments, minutes from Walt Disney World, Universal Orlando, and Universal Epic Universe.

DALLAS, Oct. 28, 2026 /PRNewswire/ -- Civitas Capital Group ("Civitas") announced today that it has provided a $386 million senior construction loan to Flag Luxury Group ("Flag") and Unicorp National Developments, Inc. ("Unicorp"), for the InterContinental Orlando. The loan supports construction of a 700-key luxury hotel at 8001 International Drive, planned to include multiple food and beverage outlets, approximately 105,000 square feet of meeting and pre-function space, and a six-level parking garage with approximately 730 parking spaces. Other amenities include a conservatory, spa, fitness center, club lounge and pool.

"Orlando is well represented by institutional ownership...we are excited to be a part of bringing this hotel to market."

"Civitas' credit platform is a national leader in large-scale construction financing with an active focus on the hospitality sector," said Austin Khan, Managing Director and Head of Investments for Civitas. "This transaction checked many of the boxes for our program, including experienced and well-capitalized sponsorship, outstanding market fundamentals, and the need for a creative structuring solution. Orlando is well represented by institutional ownership for large-scale trophy assets, and we are excited to be a part of bringing this hotel to market."

The InterContinental Orlando will rise on International Drive in the heart of Orlando's tourism corridor, three miles from Universal Epic Universe and minutes from Walt Disney World and Universal Orlando. According to Visit Orlando, The Official Tourism Association^® for Orlando, Orlando was the most-visited destination in the United States in 2025, welcoming 76.7 million visitors.

"Unicorp has been building in Central Florida for decades, and International Drive has never had more momentum," said Chuck Whittall, President of Unicorp National Developments. "This loan allows us to break ground on the first phase of a multi-billion-dollar masterplan and will create jobs, anchor group business for the convention center, accommodate Epic Universe customers, and bring a world-class brand to the corridor."

The hotel will offer 700 guest rooms averaging approximately 471 square feet, including 33 junior suites, 50 suites, and five VIP and presidential suites. Guest amenities will include a spa and wellness facility with pool and fitness center, multiple food and beverage outlets, a business center, and the brand's signature Club InterContinental lounge. The property is positioned to reflect the evolution of the InterContinental brand, combining elevated amenities with culturally immersive programming.

"Closing this financing marks the moment that the InterContinental Orlando moves from vision to construction," said Paul Kanavos, Chairman and CEO of Flag Luxury Group. "Orlando is one of the great hospitality markets in the world, and this resort will be a flagship for Intercontinental hotels and will set a new standard for luxury on International Drive."

Site work is already underway, with vertical construction expected to begin in the first quarter of 2027 and completion expected in the third quarter of 2029. FINFROCK, a Florida-based vertically integrated design-build firm, will serve as general contractor. FINFROCK has completed more than $350 million in projects with the sponsorship and has delivered large-scale Orlando hospitality developments including the 2,800-room Endless Summer Resort at Universal Orlando and Terra Luna Resort adjacent to Universal Epic Universe.

JLL Hotels & Hospitality Group served as advisor to Flag and Unicorp in connection with the transaction.

ABOUT CIVITAS CAPITAL GROUP

Civitas Capital Group is a leading provider of bridge and construction financing nationwide. Since 2009, Civitas has originated over $3 billion of equity and debt transactions, always anchored by the firm's core values of Focused Creativity, Institutional Stewardship, and Respect & Grace. The firm digs deeper to uncover opportunities that others miss, combining decades of underwriting experience with flexible structuring and uncompromising integrity. The result: Civitas is trusted by real estate innovators to deliver creative solutions, disciplined execution, and enduring commitment. Learn more at civitascapital.com.

ABOUT FLAG LUXURY GROUP

Flag Luxury Group is a privately held, New York City-based real estate developer specializing in luxury hospitality, branded residences, entertainment, and retail projects in high-barrier, high-growth gateway markets. Founded in 1997 by Paul and Dayssi Kanavos, the firm evolved from The Flag Group, established in 1946, which developed over $4 billion in global hospitality assets. Since forming a strategic alliance with The Ritz-Carlton in 1997, Flag Luxury has developed more than $6 billion in projects, including multiple Ritz-Carlton properties across premier U.S. markets.

ABOUT UNICORP NATIONAL DEVELOPMENTS, INC.

Unicorp National Developments, Inc., is an award-winning real estate developer specializing in luxury multifamily, mixed-use destinations, hotels, and branded residences. Since 1998, the firm has developed more than $7 billion in projects across Florida, Texas, New York, and other high-growth markets, with over 10 million square feet currently in planning and construction. In Florida, Unicorp recently completed The St. Regis Longboat Key Resort; The Ritz-Carlton Residences, Orlando, Grande Lakes; and is about to begin the Ritz-Carlton Residences, Hammock Dunes. Unicorp is led by Founder and President Chuck Whittall.

ABOUT FINFROCK

FINFROCK is a Florida-based, vertically integrated design-build firm providing architecture, engineering, precast manufacturing, and general contracting services under one roof. Founded in 1945, the firm specializes in large-scale hospitality, multifamily, and commercial developments throughout the state.

ABOUT JLL

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries, and a global workforce of more than 112,000 as of June 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

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SOURCE CIVITAS CAPITAL GROUP

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What was JLL's role in the InterContinental Orlando construction financing?

JLL Hotels & Hospitality Group advised Flag Luxury Group and Unicorp National Developments on the transaction. Civitas Capital Group provided the $386 million senior construction loan; JLL's disclosed role was advisor, not lender.

When is InterContinental Orlando expected to be completed?

InterContinental Orlando is expected to be completed in the third quarter of 2029. Site work is already underway, and vertical construction is expected to begin in the first quarter of 2027, with FINFROCK serving as general contractor.