Updated Oct 29, 2024
CIM Group Provides $68.5M Loan For Condo Development Project In Boca Raton
475 East Royal Palm Road, Boca Raton, FL, USA
$68,500,000
$24,153/SF
Building Size
2,836 SF
Asset Type
Development Site
Closing
Dec 2, 2020
About this deal
AI
475 E. Royal Palm Road in Boca Raton has been the subject of a recent loan transaction. The loan, provided by CIM Group, amounted to $68,500,000. This property is a condominium development located in the Boca Raton market.
Summary of transaction details
- Property Type: Condo Development
- Transaction Amount: $68,500,000
- Date: 12/03/2020
- Address: 475 E. Royal Palm Road
- Market: Boca Raton
The loan was facilitated by the broker representatives Ronnie Levine, Judah Hammer, Ben Jacobs, and Jared Kaufman from Meridian Capital Group. The landlords of the property are Ignacio Diaz and Jose Padua from Group P6.
On the Map
$68,500,000
$24,153/SF
Development Site
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Players
Boca Raton Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93