Tomas Cabrerizo And Maurice Cayon Secure $46.5M Construction Loan For Development Site In Margate

The property involved in this transaction is a development site located at 5205 Coconut Creek Parkway in Margate, covering 8.02 acres. The project secured a construction loan of $46,500,000, intended for the development of the Marquesa Apartments, which will consist of 220 units, including four buildings, a clubhouse, and seven workforce housing units.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $46,500,000
• Lender: City National Bank of Florida
• Landlord: Tomas Cabrerizo - CFH Group
• Landlord: Maurice Cayon - Cayon Development Group
• Market: Margate
• Note: TC MC Margate Apartments LLC is led by Tomas Cabrerizo and Maurice Cayon.

This transaction highlights the collaboration between Tomas Cabrerizo and Maurice Cayon, who lead their respective groups, CFH Group and Cayon Development Group. Their joint efforts successfully groundbreak on the Marquesa Apartments project following the acquisition of the construction financing, which will support the creation of a significant housing asset in the Margate area.