Fidelity National Title Underwrites $21.7 Mil College Bond

ORLANDO-In one of their largest deals of the year, the Florida agency division of California-based Fidelity national Title Insurance Co. and the real estate law department of Daytona Beach, FL-based Cobb, Cole & Bell have completed a $21.7 million bond issue for Bethune-Cookman College.

The college will use the funds to finance construction of a new Performing Arts Center and renovation of the school’s existing music and communications buildings.

SunTrust Bank provided the loan; Fidelity underwrote it; and Cobb Cole issued the title insurance policy. The bonds were issued under the Volusia County Educational Facilities Authority.

Cobb Cole and Fidelity have completed four commercial real estate deals valued at $25 million this year. The two firms have collaborated on title policies for a $1.36 million loan on an agriculture property purchase in Lake County; a $1.4 million loan on an Ormond Beach, FL residence; and a $450,000 loan for a manufacturing plant site in DeLand, FL. That transaction will evolve into a $2.5 million construction loan by year end.