Arnaud Karsenti Of 13th Floor Homes Secures $100M Loan For Boca Raton Development Site

The property asset involved in the transaction is a development site located at 680 West Yamato Road in Boca Raton. The site is designed for a transit-oriented mixed-use development and encompasses a multifamily project with 340 units and 24,000 square feet of retail space. The project is supported by a construction loan of $100,000,000 provided by Santander Bank.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $100,000,000
• Lender: Santander Bank
• Landlord: Arnaud Karsenti - 13th Floor Homes
• Landlord: Keith Gelb & Tom Gilbane - Rockpoint
• Market: Boca Raton
• Project: Link at Boca
• Unit Count: 340
• Retail Space: 24,000 SF
• Loan Type: Construction

The deal involves a joint venture between 13th Floor Investments and Rockpoint for the development project. The key representatives associated with the landlords are Arnaud Karsenti from 13th Floor Homes and Keith Gelb & Tom Gilbane from Rockpoint, indicating a collaboration among established firms in the real estate sector to enhance the area's development landscape.