Connect One Bank Provides $20.5M Acquisition Loan For West Palm Beach Development Site

A development site located at 320 Pine Street and 300 Butler Street in West Palm Beach has secured a $20,527,000 acquisition loan from Connect One Bank. The property, with a total square footage of 160,082, is owned by Savanna Fund, represented by Christopher Schlank, Nicholas Bienstock, Andrew Kurd, Garrett Criden, and Brandon Rinker. The loan has a floating rate and a term of 30 months.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $20,527,000
• Address: 320 Pine Street and 300 Butler Street
• Market: West Palm Beach
• Asset Size: 160,082 square feet

Alongside Connect One Bank, the brokers involved in this deal were Scott Wadler, Matthew Nihan, and Bobby Dockerty from Berkadia. They played a crucial role in facilitating the transaction between the Savanna Fund and the lender. This collaboration highlights the expertise and professionalism of the brokers in successfully securing the acquisition loan for the development site in West Palm Beach.