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Madison Realty Capital Provides $302.5M Construction Loan For Condo In Boca Raton, FL

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FINANCED
$302,500,000
Henry Stimler
Anthony Orso
MG

Florida

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Condo458,000 SF
Financed 08/02/2023
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FINANCED

Madison Realty Capital Provides $302.5M Construction Loan For Condo In Boca Raton, FL

101 E Camino Real Boca Raton, FL 33432, USA

See Similar Deals
Condo458,000 SF
Financed 08/02/2023
Henry Stimler
Anthony Orso
MG
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Condo
Price Per Square Foot:$660
Total Square Footage:458,000 SF
Transaction Type:Loan

A construction loan amounting to $302,500,000 has been secured for the development of a condo property located at 101 East Camino Real in Boca Raton, FL. The asset boasts a total square footage of 458,000 and comprises 100 units, making it a significant addition to the local real estate market.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $302,500,000
  • Address: 101 East Camino Real, Boca Raton, FL
  • Market: Boca Raton, FL
  • Square Footage: 458,000
  • Number of Units: 100

The construction loan was provided by Madison Realty Capital, with Josh Zegen serving as the lender's representative. As for the landlord, Penn Florida Companies, headed by Mark Gensheimer, played a crucial role in the transaction. Newmark's brokers, Henry Stimler and Anthony Orso, facilitated the deal, bringing their expertise to ensure a successful partnership.

Players

Anthony Orso
Newmark
Anthony Orso
7 deals$7.4B volume
BROKER
Henry Stimler
Newmark
Henry Stimler
53 deals$4.7B volume
BROKER
Madison Realty Capital
Madison Realty Capital
LENDER
MG
Mark A. Gensheimer
4 deals$718.6M volume
LANDLORD

Details

FINANCED
IMAGE: Mark Gensheimer, Anthony Orso, Josh Zegen, Henry Stimler & William Weber DATE: 08/02/2023 ADDRESS: 101 East Camino Real MARKET: Boca Raton, FL ASSET TYPE: Condo ~ SF: 458,000 ~ UNITS: 100 LENDER: Madison Realty Capital (@MadisonRealtyCapital) - Josh Zegen LANDLORD: Penn Florida Companies (@PennFlorida) - Mark Gensheimer BROKERS: Henry Stimler (@HenryStimler) & Anthony Orso - Newmark (@Newmark) LOAN AMOUNT: $302,500,000 LOAN TYPE: Construction FloridaCompanies

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$302,500,000.00

Monthly NOI$2,016,666.67
Monthly Debt Service$1,912,005.77
Change in Cash Flow$0.00
Refinance Proceeds$0.00