Florida Panhandle Condo-Hotel Project Moves Forward with $12.5M Loan
September 28, 2026
INLET BEACH, Fla. — Forman Capital has provided a $12.5 million pre-development loan for a planned 64-key condominium-hotel within Kaiya Club Resort in Inlet Beach, Fla.
According to an announcement from Forman, the loan will support pre-development work within the Panama City market at a 1.8-acre site at 25 Kaiya Ave. A construction timeline has not been announced.
Romair, the project sponsor, has been developing Kaiya Club Resort with villas, townhomes and condominiums. The planned Oyom-branded hotel would be the community’s first significant hospitality asset.
The resort straddles Scenic Highway 30A. Its members-only beach club, which includes a small hotel component, is on the Gulf side. Amenities include a beach house with an infinity pool, spa with wellness programming, 250 feet of beach service and a dedicated concierge. The planned wellness-focused Oyom hotel would be built across from the beach club in the center of the community.
Forman Capital’s Brett Forman, Ben Jacobson, Scott Mehlman and Ty Regnier led the lender’s origination team.
“We value our relationship with Romair Group and are proud to support its vision at Kaiya,” said Mehlman, partner and chief investment officer. “The hotel is a big step for Romair, allowing them to accommodate more guests while moving closer to completing the entire development.”
The loan is the second transaction Forman Capital’s principals have closed for Romair. Several years ago, they originated construction financing for a condominium project within Kaiya Club Resort.
“Our business is built on long-term relationships, and it’s rewarding to partner with Romair again,” said Brett Forman, managing partner of Forman Capital. “Our first deal together gave us a clear view of their execution and their commitment to the project. This land loan reflects that trust, and we look forward to seeing the condo hotel come to life.”
Forman Capital is based in Palm Beach, Fla., and provides private commercial real estate debt and equity financing for transactions ranging from $10 million to $100 million. The firm focuses on short-term construction financing, mezzanine debt and preferred equity across real estate asset classes and markets.
