The loan transaction involved the property located at 15195 & 15318 SW Warfield Blvd in Indiantown, FL. The development site spans across 50+ acres of raw land and has a building square footage (BSF) of 2,370,971. The property is owned by Allied Capital & Development and will be developed into a vibrant mixed-use project. The project will include garden style apartments, retail space, marina slips, a self-storage facility, a restaurant/bar, and various other community amenities.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $5,300,000
• Date: 07/31/2023
• Address: 15195 & 15318 SW Warfield Blvd
• Market: Indiantown, FL
• Broker(s): Steven Sperandio, Michael Fasano, Jake Weiss, Brice Shafer, Justin Sheinbaum, Nicholas Mastroianni II
• Lender: City National Bank Of Florida
• Landlord: Allied Capital & Development

RIPCO's Debt & Structured Finance Group, led by Steven Sperandio, facilitated the $5,300,000 acquisition loan for Allied Capital & Development of South Florida LLC. The loan is intended for the predevelopment phase of the project, which is expected to have a total investment of over $100 million. The experienced sponsorship behind the development aims to create a dynamic mixed-use property that will greatly benefit the village of Indiantown, FL.