The property asset involved is a development site located at 405 East Ocean Avenue in Boynton Beach, covering an area of 5.1 acres. The development includes an 8-story building with 15,757 square feet of commercial space and provision for 668 parking spaces. A construction loan amounting to $86,000,000 has been secured for the project.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $86,000,000
• Address: 405 East Ocean Avenue
• Market: Boynton Beach
• Lender: Synovus Bank & Banesco USA
• Landlord: Manny Mato & Luiz Perez - Edgewater Capital Investments; QMS Group
• Lender's Representative: Jay Koenigsberg - Carlton Fields
• Landlord's Representative: Francisco Leon de la Barra - EPGD Law
• Expected Completion: February 2027
• Project Name: The Villages at East Ocean
• Units: 371-unit mixed-use project

Key individuals involved in the transaction include Manny Mato and Luiz Perez representing Edgewater Capital Investments and QMS Group as landlords. The financing was facilitated by Jay Koenigsberg from Carlton Fields representing the lenders. Francisco Leon de la Barra from EPGD Law acts as the representative for the landlords in this transaction.