Bank OZK Provides $42.6M Loan For Luxury Condo Development On South Ocean Boulevard, Boca Raton
725 South Ocean Boulevard, Boca Raton, FL, USA
$42,600,000
$12,463/SF
Building Size
3,418 SF
Asset Type
—
Closing
Nov 29, 2020
About this deal
AI
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.
Players
Boca Raton CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93