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Rockpoint Group's Keith Gelb & Bill Walton Secure $111M Construction Loan For Sunrise Development Site

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FINANCED
$111,000,000
Bill Walton
KG

Florida

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Development Site
Financed 12/22/2025
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Property Image
FINANCED

Rockpoint Group's Keith Gelb & Bill Walton Secure $111M Construction Loan For Sunrise Development Site

3363 North Pine Island Road

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Development Site
Financed 12/22/2025
Bill Walton
KG
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Loan

A 21.2-acre multifamily development site located at 3363 North Pine Island Road in Sunrise has been transacted for $26.21 million. This site is set to feature 412 apartments and 40 townhouses, supported by a construction loan amounting to $111 million from PNC Bank.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $26,210,000
  • Loan Amount: $111,000,000
  • Lender: PNC Bank
  • Landlord: Keith Gelb & Bill Walton - Rockpoint Group
  • Seller: Peter Liebman - Humbold Real Estate Ventures
  • Market: Sunrise
  • Asset Size: 21.2 acres
  • Project Name: Caroline at Sunrise

This acquisition was made by an affiliate of Rockpoint Group, with Keith Gelb and Bill Walton representing the landlord. The project approved for the site emphasizes multifamily residential living, with a significant number of housing units planned for development.

Players

PNC Bank
PNC Bank
LENDER
Bill Walton
Rockpoint Group
Bill Walton
9 deals$1.5B volume
LANDLORD
KG
Rockpoint Group
Keith Gelb
16 deals$2.1B volume
LANDLORD
Rockpoint Group
Rockpoint Group
LANDLORD

Details

FINANCED
IMAGE: Keith Gelb & Bill Walton DATE: 12/22/2025 ADDRESS: 3363 North Pine Island Road MARKET: Sunrise ASSET TYPE: Development Site ~ ACRES: 21.2 LENDER: PNC Bank (@PNCBank) LANDLORD: Keith Gelb & Bill Walton - Rockpoint Group SELLER: Peter Liebman - Humbold Real Estate Ventures LOAN AMOUNT: $111,000,000 LOAN TYPE: Construction NOTE: An affiliate of Rockpoint Group acquired a 21.2-acre multifamily development site in Sunrise for $26.21 million and secured a $111 million construction loan from PNC Bank. The approved project, Caroline at Sunrise, calls for 412 apartments and 40 townhouses across the site, which was sold by affiliates of Humbold Real Estate Ventures.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$111,000,000.00

Monthly NOI$740,000.00
Monthly Debt Service$701,595.51
Change in Cash Flow$0.00
Refinance Proceeds$0.00