Trez Capital Provides $82M Construction Loan For Condo Development In West Palm Beach
4714 North Flagler Drive, West Palm Beach, Florida 33407, United States
$82,000,000
$301/SF
Building Size
271,837 SF
Asset Type
—
Closing
Apr 21, 2022
About this deal
AI
A construction loan has been secured for a condo property located at 4714 N Flagler Dr in West Palm Beach. The condo spans 271,837 square feet and consists of 55 units within a 1.7-acre land parcel.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $82,000,000
- Address: 4714 N Flagler Dr
- Market: West Palm Beach
- Units: 55
- Acreage: 1.7
Trez Capital, represented by Ben Jacobson, will be providing the construction loan for this project. The borrower, BGI Companies, is represented by Kenneth Baboun and Robert Barthelmess.
On the Map
$82,000,000
$301/SF
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93