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Kriss Capital Secures $100 Million Construction Loan For Alina Phase Two In Boca Raton

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FINANCED
$100,000,000

Florida

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571,500 SF
Financed 08/30/2022
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FINANCED

Kriss Capital Secures $100 Million Construction Loan For Alina Phase Two In Boca Raton

220 Southeast Mizner Boulevard, Boca Raton, Florida 33432, United States

See Similar Deals
571,500 SF
Financed 08/30/2022
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Price Per Square Foot:$175
Total Square Footage:571,500 SF
Transaction Type:Loan

The property involved in this transaction is a condominium located at 220 SE Mizner Blvd in Boca Raton, FL. It has a total area of approximately 571,500 square feet and consists of 182 units. The transaction took place on 08/30/2022.

Summary of Transaction Details

  • Property Type: Condo
  • Transaction Amount: $100,000,000
  • Loan Type: Construction
  • Loan Provider: Kriss Capital - Jody Kriss, Mark Luehring-Jones & Harvey M. Lederman
  • Landlord: Elad Group - Yitzhak Tshuva

This loan was provided by Kriss Capital, with Jody Kriss, Mark Luehring-Jones, and Harvey M. Lederman representing the lending company. The landlord in this deal is the Elad Group, with Yitzhak Tshuva as their representative. The loan amount for this construction project is $100,000,000. Kriss Capital and its partners successfully closed the loan quickly and efficiently, despite the challenges presented by the current market conditions. This financing will be used for the second phase of Elad's Alina development.

Players

Kriss Capital
Kriss Capital
LENDER
YT
Elad Group
Yitzhak Tshuva
9 deals$628.6M volume
LANDLORD

Details

FINANCED
IMAGE: Jody Kriss, Yitzhak Tshuva, Harvey M. Lederman & Mark Luehring-Jones DATE: 08/30/2022 ADDRESS: 220 SE Mizner Blvd MARKET: Boca Raton, FL ASSET TYPE: Condo ~ SF: 571,500 ~ UNITS: 182 LENDER: Kriss Capital - Jody Kriss (@KrissJody) , Mark Luehring-Jones (@MarkLuehringJones) & Harvey M. Lederman (@Harvey.Lederman) LANDLORD: Elad Group - Yitzhak Tshuva LOAN AMOUNT: $100,000,000 LOAN TYPE: Construction NOTE FROM LENDER: Construction financing for the second phase of Elad's successful Alina development. Kriss Capital and its partners worked around current market difficulties to close this loan quickly and efficiently.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$100,000,000.00

Monthly NOI$666,666.67
Monthly Debt Service$632,068.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00