Madison Realty Capital Provides $94M Construction Loan For Pompano Beach Condo Development

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.