Madison Realty Capital Provides $94M Construction Loan For Pompano Beach Condo Development
FINANCED
$94,000,000
Florida
See Similar DealsFinanced 05/20/2022
FINANCED
Madison Realty Capital Provides $94M Construction Loan For Pompano Beach Condo Development
2629 North Riverside Drive, Pompano Beach, Florida 33062, United States
See Similar DealsFinanced 05/20/2022
Summary
FLORIDA
Transaction Type:Loan
The Chetrit Group, led by Joseph Chetrit, has secured a construction loan for a condominium development located at 2629 N Riverside Dr in Pompano Beach,FL. The property consists of 121 units and is set to be a significant addition to the local real estate market.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $94,000,000
- Date: 05/20/2022
- Address: 2629 N Riverside Dr
- Market: Pompano Beach, FL
- Lender: Madison Realty Capital
- Landlord: Chetrit Group - Joseph Chetrit
- Broker: Henry Bodek - Galaxy Capital
The loan, provided by Madison Realty Capital, offers the necessary funds for the construction of the condo development. Henry Bodek of Galaxy Capital acted as the broker in the transaction, representing the Chetrit Group. This deal highlights the strong partnership between the borrower and lender, facilitating the creation of a new residential property in Pompano Beach.
Players
LENDER
LENDER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Lenders
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$94,000,000.00
Monthly NOI$626,666.67
Monthly Debt Service$594,143.94
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions