Phase I will include 372 apartments, 60 sf of medical offices 61K sf of commercial space.

Lotis Group scored a $44 million construction loan for the first phase of its massive planned Wellington mixed-use project. 

Lotis, led by John Markey, Adam Freedman and James Gielda, plans The Square & Residences at Lotis Wellington, as the first phase is named, with 372 apartments in garden-style complexes; 60,000 square feet of medical offices and 61,400 square feet of commercial space, according to the development firm’s website and a news release from the financing broker. The project would be built along the west side of State Road 7, north of Wellington Regional Medical Center in Wellington.

Sean Harrington of Aztec represented Lotis in the financing. Douglas Papy represented the lender, BlueFin Financial. Papy is chief investment officer at BlueFin. 

The loan is for site preparation and infrastructure for phase I. It refinances a $24 million loan Lotis originally scored in 2022, and increases it by another $20 million, according to records. 

Lotis will next go to the market for a retail and multifamily construction loan, Harrington said.