Malcolm Butters Of Butters Construction & Development Secures $73.5M Loan From BMO Bank For Development Site

The asset involved in this transaction is a 47.2-acre development site located at 8255 Boynton Beach Boulevard in Boynton Beach. The project is backed by a construction loan amounting to $73,500,000. The planned development, known as The District, will consist of seven buildings and small-bay warehouses, with delivery expected by June 2026.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $73,500,000
• Address: 8255 Boynton Beach Boulevard
• Market: Boynton Beach
• Lender: BMO Bank
• Landlord: Malcolm Butters - Butters Construction & Development
• Additional Landlord: Jon H. Channing
• Note: The District will feature tenants for indoor tennis, pickleball, gymnastics, and padel.

Key individuals involved in this transaction include Malcolm Butters, representing Butters Construction & Development, who is overseeing the project development. Jon H. Channing is also noted as a landlord involved in the deal. This project signifies an expansion of industrial space within the market, driven by the requirements of the identified tenants.