Woodfield Development, Flagler Realty & Development, And Park Property Capital Secure $80.56 Million Loan For Development Site In West Palm Beach

The asset involved in this transaction is a development site located at 8111 Dixie Highway in West Palm Beach, spanning 283,140 square feet. The total loan amount secured for this project is $80,564,990, classified as a construction loan.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $80,564,990
• Lender: PNC Bank, N.A.
• Completion Date: Q4 2026
• Retail Space: 19,000 square feet

The parties involved include a joint venture among Ross Abramson and TJ Scott from Woodfield Development, Patrick Koenig and Brad Koenig from Flagler Realty & Development, and Morgan McClung and Brendan Whalen from Park Property Capital. Verdex Construction is slated to undertake the project, which will feature 358 market-rate and workforce housing apartments along with luxury amenities.