Southpoint Financial Services Secures $45.77M Loan For Calusa Pointe II Development In Belle Glade

A construction financing loan of $45.77 million was secured for a development site at 854 County Road 827a in Belle Glade. The asset, spanning 14.4 acres, is set to host a three-story, 168-unit affordable housing development aimed at residents earning between 50% and 60% of the area median income.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $45,770,000
• Lender: TD Bank, Palm Beach County & Florida Housing Finance Corp.
• Landlord: J. David Page - Southpoint Financial Services

An affiliate of Southpoint Financial Services played a significant role in securing the construction financing, which included a $34 million loan from TD Bank along with public funding. The development is strategically located approximately 43 miles west of West Palm Beach.