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Lowndes Advises Waterman Communities Inc. on $126-million Bond Financing for Retirement Community Expansion in Mount Dora, Fla.

October 28, 2020

Lowndes represented Waterman Communities Inc. in Lake County’s issuance of $126,340,000 of Retirement Facility Revenue bonds for the development of Lakeside at Waterman Village, a $126-million expansion of the Waterman Village retirement community in Mount Dora, Fla. Located on 27 acres surrounding Lake Margaret on North Donnelly Street, the project will include a total of 183 brand-new residences, consisting of 159 independent living units and 24 memory support units.

Groundbreaking for the expansion project was held in October 2020, with construction expected to be completed by early 2022. The expansion will include several buildings with condo-style homes and single-story villas, as well as a clubhouse with dining venues and fitness areas.

The Lowndes team representing Waterman Communities was led by Real Estate Department Chair Daniel McIntosh. He was assisted by Emmett Egger (real estate), Mark Heimendinger (banking and finance) and Michael Gibbons (construction). The team will continue to assist with development and construction of the expansion project.

About Lowndes

Founded in Orlando, Florida in 1969, Lowndes, Drosdick, Doster, Kantor & Reed, P.A., is a multi-discipline business law firm. Our attorneys represent corporate, entrepreneurial and individual clients across a myriad of industries locally, nationally and beyond our borders, from offices in Orlando, Mount Dora and Melbourne, and through Meritas, an established global alliance of independent law firms offering local insight, local rates and world-class client service. LOCAL ROOTS. BROAD REACH.SMSM


Daniel

Destined to become a lawyer, Dan is a Central Florida native surrounded by more than a handful of lawyers among his relatives – including his dad who was the City Attorney for a number of Central Florida cities and public entities, siblings, cousins, in-laws, and even children. But first Dan wanted to explore the ski slopes of the “wild west” after attending Duke University and before returning to his southern roots to attend the University of Florida Law School. While in college, Dan worked in high-end retail and as a rodman on a survey crew. With this surveying experience behind him, Dan ultimately found his passion in real estate law.

With a focus on business trends, Dan has successfully guided some of the most recognizable Central Florida companies through multi-site, multi-jurisdictional real estate acquisitions, financings, and dispositions. He advises clients on acquisition, leasing and financing, title review and survey analysis, environmental issues and zoning, with attention to every detail of these transactions – from document preparation, review of title commitments, endorsements and coverages, surveys, and closing statements, and all the negotiating and documentation in between. Clients include owners and lenders of shopping centers, retail stores, restaurants, gasoline and convenience stores, golf courses, ski resorts, hotels, and condominium properties.

In addition, Dan has negotiated and closed hundreds of high end residential transactions on sites throughout the southeast.

As a real estate leader in the firm, Dan’s mission has included building and mentoring efficient teams committed to the clients’ business success, echoed in his commitment to his community. A resident of Winter Park for many years, Dan has served in leadership roles on many civic, church, and charitable boards. A graduate and long-time participant in the Winter Park Chamber of Commerce Leadership Program, Dan served as its alumni association president, wrote its initial by-laws, and was a recipient of its Winter Park Chamber of Commerce Community Leader Award. His leadership role on the Winter Park Library Board is helping to bring the City’s vision of a new library and events center to life in Martin Luther King Park. Dan is also a past president of the Orlando Shakespeare Theater and has been a member of its Board for over 20 years.

Emmett

Emmett Egger is an associate in the firm’s Commercial Litigation Group. He also has experience assisting clients with complex real estate development, finance and commercial leasing issues. 

They say sports helps to build character and that’s exactly what happened to Emmett. Having played tennis since the young age of 6, Emmett has gained a tremendous amount of discipline, focus, and determination which helps him work on complex real estate development, finance, and commercial leasing issues for clients and gain top results.

In addition to serving as the captain of the men’s tennis team and as a member on the Student Athlete Advisory Council at University of Washington, Emmett qualified as the number one junior tennis player in the nation and a participant in all four junior majors (Australian, French, Wimbledon, and U.S. Open).

Mark

Getting the deal done requires flexibility, creativity, and efficiency. Clients and colleagues alike turn to Mark Heimendinger for his years of debt and equity finance experience, particularly in the commercial real estate and other asset-based arenas.


A seasoned pro who has seen the risks and iterations associated with both sides of a deal and all aspects of the capital stack, Mark understands that many contentious legal issues often mask a business concern – one that he likely has faced before. Even with the most complex and challenging negotiations, he is pragmatic, and focused on the client’s commercial goals.

Mark’s clients include issuers, borrowers, lenders, and underwriters. He has negotiated and executed a variety of transaction structures, including term and revolving credit facilities, public bond financings, public and private securitization transactions (including CMBS), mezzanine financing, equipment financing, 144A and Reg. D offerings, repo agreements, syndications, currency and interest rate cap and swap transactions, underwriting agreements, intercreditor agreements, joint ventures, and jurisdiction-specific non-recourse structures. Within the real estate space, Mark has covered multiple asset classes, including hotels and leisure facilities, office towers, senior living facilities, and multi-family residential buildings.

In addition to his Florida practice, Mark has years of both domestic and overseas “AmLaw 100” experience and has completed numerous cross-border transactions, mostly in the Asia Pacific region and in Europe.
Michael

A LEED-certified attorney, Michael Gibbons represents owners, developers, contractors, design professionals and subcontractors asserting a variety of construction claims (and defenses to such claims), including actions for breach of contract, delay, latent defects, water intrusion and mold, differing site conditions, extra work, indemnity and warranty.


Michael also counsels clients on issues related to construction claims of lien and surety bond claims and regularly represents clients in litigation and arbitration over construction claims of lien and payment and performance bond claims. 

Formerly an Assistant State Attorney, Michael tried over 65 cases through verdict ranging from battery and DUI to Armed Robbery and Felony Murder. He has tried a variety of civil cases as well, and has substantial experience litigating ADA (Americans with Disabilities Act) cases in Federal Court under Title III of the ADA where accessibility to public accommodations is at issue.

In addition to litigating design and construction related claims, Michael often represents owners, developers, design professionals, general contractors, and sub-contractors in the preparation and negotiation of design and construction contracts. His experience litigating construction claims helps Michael identify problematic and unfavorable contract language. Conversely, his experience drafting and negotiating complex construction contracts makes Michael a more informed and knowledgeable litigator when a client needs a forceful advocate on a construction contract issue. A reasonable and clearly expressed allocation of commercial risks, rights and liabilities is essential to a good design or construction contract and critical for reducing the risk of later claims.

Accredited by the Green Building Certification Institute as a LEED (Leadership in Energy and Environmental Design) Green Associate, Michael is a frequent speaker and author on the subject of managing risks in sustainable design and construction contracts. He has significant experience drafting and negotiating design and construction contracts incorporating sustainability principles including LEED standards.

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