S3 Capital Partners Provides $126M Construction Loan For Multifamily Development In Royal Palm Beach, FL
Tuttle Boulevard At Southern Boulevard & Tuttle Boulevard At Southern Boulevard
$126,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Mar 6, 2023
AI
LYND Development has secured a construction loan of $126,000,000 for a multifamily property located at Tuttle Blvd At Southern Blvd in Royal Palm Beach, FL. The loan was provided by S3 Capital Partners, with Robert Schwartz and Steven Jemal representing the lender.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $126,000,000
- Unit Count: 401
- Address: Tuttle Blvd At Southern Blvd, Royal Palm Beach, FL
- Market: Royal Palm Beach, FL
David Lynd, representing LYND Development, acted as the landlord in this deal. The brokers involved in the transaction were Kevin O’Grady from Concord Summit Capital.
If you have any loan inquiries, please contact Steven Jemal at [email protected].
Players
Thousand Palms MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93