Updated Jun 5, 2025
Starwood Capital Group, Hyperion Group, And Winter Properties Secure $96.4M Loan For West Palm Beach Development Site
201 Clearwater Drive, West Palm Beach, Florida 33401, United States
$96,400,000
Building Size
—
Asset Type
Development Site
Closing
May 4, 2022
About this deal
AI
Located at 201 Clearwater Drive in West Palm Beach, this 1.3-acre development site recently secured a $96,400,000 construction loan from J.P. Morgan Chase. The property, showcased in an Instagram post by David Winter, Barry Sternlicht, and Rob Vecsler, is owned by Starwood Capital Group, Hyperion Group, and Winter Properties.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $96,400,000
- Address: 201 Clearwater Drive
- Market: West Palm Beach
- Loan Type: Construction Loan
- Lender: J.P. Morgan Chase
- Landlord: Starwood Capital Group - Barry Sternlicht, Hyperion Group - Rob Vecsler, Winter Properties - David Winter
This deal brings together notable individuals and companies in the real estate industry. Barry Sternlicht represents Starwood Capital Group, Rob Vecsler represents Hyperion Group, and David Winter represents Winter Properties.
Players
West Palm Beach Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93