FINANCED
Pepe Fanjul Jr. Of FCI Residential Secures $55.7M Construction Loan In Royal Palm Beach
10428 Acme Road
Development Site
Financed 56 days ago
Summary
Loan
FLORIDA
Development Site
The development site located at 11230, 11260, 11265, 11315 Channing Way, 10345 & 10428 Acme Road in Royal Palm Beach spans across 25 acres. Pepe Fanjul Jr. of FCI Residential is the landlord overseeing the site.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $55,700,000
- Lender: PNC Bank
- Loan Type: Construction Loan
The $55.7 million construction loan for a 320-unit apartment complex in Royal Palm Beach is part of the Tuttle Royale mixed-use project. FCI Residential, led by Pepe Fanjul Jr., is driving the development activities expected to be completed by summer 2026. Notable developers like Brian Tuttle and the Pérez family's Related Group are also active in the area.
Details
FINANCED
IMAGE: Pepe Fanjul Jr.
DATE: 03/15/2024
ADDRESS: 11230, 11260, 11265, 11315 Channing Way, 10345 & 10428 Acme Road
MARKET: Royal Palm Beach
ASSET TYPE: Development Site ~ ACRES: 25
LENDER: PNC Bank (@PNCBank)
LANDLORD: Pepe Fanjul Jr. - FCI Residential (@FCIResidential)
LOAN AMOUNT: $55,700,000
LOAN TYPE: Construction Loan
NOTE: The Fanjul family secures a $55.7 million construction loan for a 320-unit apartment complex in Royal Palm Beach as part of the Tuttle Royale mixed-use project. Led by FCI Residential, the development company of Pepe Fanjul Jr., the project is slated for completion by summer 2026, amidst ongoing development activities by other notable developers like Brian Tuttle and the Pérez family's Related Group in the area.View on map
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Address10428 Acme Road
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