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Echelon | 100 Seascape Drive, Miramar Beach FL | Luxury Resort Condo | $96M Reg D 506(c)
Echelon at 100 Seascape Drive, Miramar Beach FL — 24-story, 246-unit luxury resort condominium. $96M equity offering. 8% preferred return. ~18% target IRR. 2.1x equity multiple. Reg D 506(c). Accredited investors only. Tokenized co-investment equity via DelNorte Equity Mint. Sponsor: MB Condos LLC (Frank Griffith, Michael Schneider, Mark Pan). Total project cost $320M. Projected valuation $406.5M+. SMP Architecture conceptual design complete. WFG ALTA title commitment in place.
Echelon at 100 Seascape Drive is a 24-story, 246-unit luxury resort condominium development in Miramar Beach, Walton County, Florida — positioned to become the premier high-rise resort on Florida's Gulf Coast.
THE OFFERING
Total equity: $96,000,000 | Investor equity (85%): $81,600,000 | Sponsor equity (15%): $14,400,000 8% cumulative preferred return per annum Target investor IRR: ~18% | Target equity multiple: 2.1× investor | 3.2× sponsor Total project cost: $320,000,000 | Projected stabilized value: $406,500,000+ Minimum investment: $100,000–$250,000 Holding period: 3–5 years Offering structure: Reg D Rule 506(c) | Verified accredited investors only Token standard: ERC-1400 / ERC-3643 via DelNorte Equity Mint platform
WHY ECHELON
Walton County granted DRI entitlement to construct up to 250 units on this site — one of the last large-scale entitled coastal development parcels on the Gulf Coast. Master development order is in place. County planning review complete with only mild comments. Final commissioner vote pending.
Site title is secured via WFG ALTA Title Commitment No. 2585608FL-A at a $20,000,000 acquisition price. SMP Architecture April 2025 conceptual design package is complete — full floor plans for all 24 levels, unit renderings, and exterior elevations are available.
246 luxury units across six types: 102 two-bedroom (1,688 SF), 102 three-bedroom (2,025 SF), 34 four-bedroom end units (2,703 SF), 4 terrace units (3,967 SF), 2 penthouse units at 4,857 SF, and 2 penthouse units at 3,935 SF. Total net residential SF: ~504,230.
Amenities span five dedicated floors: three pools including a lazy river, fine dining, co-workspace, bowling, golf simulators, fitness, event hall, two-level spa, and an owner's club at 300 feet. 500 vehicle + 250 golf cart parking podium included.
THE SPONSOR
MB Condos LLC (Florida LLC) — Frank Griffith, President (48%) | Michael Schneider, VP (38%) | Mark Pan, Attorney (14%). Current site title holder: H and S, L.L.C., vested since June 2021.
TO INVEST
Contact DelNorte to receive the full Private Placement Memorandum, investor questionnaire, and arrange a direct introduction to the sponsor team. Accredited investor verification required prior to review of offering materials.
related articles: https://sowal.com/forum/threads/approved-24-story-246-unit-condominium-in-south-walton-florida.114509
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