Bank OZK Provides $42.6M Loan For Luxury Condo Development On South Ocean Boulevard, Boca Raton
FINANCED
$42,600,000
Florida
See Similar Deals3,418 SF
Financed 11/30/2020
FINANCED
Bank OZK Provides $42.6M Loan For Luxury Condo Development On South Ocean Boulevard, Boca Raton
725 South Ocean Boulevard, Boca Raton, FL, USA
See Similar Deals3,418 SF
Financed 11/30/2020
Summary
FLORIDA
Price Per Square Foot:$12,463
Total Square Footage:3,418 SF
Transaction Type:Loan
A luxury condo development located at 725 South Ocean Boulevard in Boca Raton was recently involved in a transaction. The property consists of 32 units and is known for its prime location in the Boca Raton market.
Summary of transaction details
- Property Type: Luxury Condo Development
- Transaction Amount: $42,600,000
- Address: 725 South Ocean Boulevard
- Market: Boca Raton
- Lender: Bank OZK
- Landlord: Key International & Integra Investments
Bank OZK provided a loan amount of $42,600,000 for this transaction. The property's landlord, represented by Key International & Integra Investments, facilitated the deal as the borrower sought financing for the luxury condo development.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$42,600,000.00
Monthly NOI$284,000.00
Monthly Debt Service$269,260.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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