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Housing Trust Group Secures $29.2M Loan For Development Site In West Palm Beach

Property Image
FINANCED
$29,200,000
Robbie Lynn
Kyle Kolesar
MB

Florida

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Development Site
Financed 12/18/2020
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Property Image
FINANCED

Housing Trust Group Secures $29.2M Loan For Development Site In West Palm Beach

991 Banyan Boulevard, West Palm Beach, FL, USA

See Similar Deals
Development Site
Financed 12/18/2020
Robbie Lynn
Kyle Kolesar
MB
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Loan

A development site located at 991 Banyan Boulevard in West Palm Beach has been involved in a recent transaction. The property is owned by Housing Trust Group and was the subject of a deal facilitated by brokers Kyle Kolesar, Mimi Brennan, and Robbie Lynn from KeyBank. The transaction took place on December 18, 2020.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $29,200,000
  • Address: 991 Banyan Boulevard, West Palm Beach
  • Market: West Palm Beach

The deal involved a loan amount of $29,200,000. Kyle Kolesar, Mimi Brennan, and Robbie Lynn from KeyBank represented the parties involved in the transaction.

Players

Kyle Kolesar
Kyle Kolesar
1 deal$29.2M volume
BROKER
MB
Mimi Brennan
1 deal$29.2M volume
BROKER
Robbie Lynn
Robbie Lynn
1 deal$29.2M volume
BROKER
HG
Housing Trust Group
LANDLORD

Details

FINANCED
IMAGE: Kyle Kolesar, Matthew Rieger, & Robbie Lynn DATE: 12/18/2020 ADDRESS: 991 Banyan Boulevard MARKET: West Palm Beach ASSET TYPE: Development Site LANDLORD: Housing Trust Group BROKERS: Kyle Kolesar, Mimi Brennan, & Robbie Lynn - KeyBank LOAN AMOUNT: $29,200,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$29,200,000.00

Monthly NOI$194,666.67
Monthly Debt Service$184,563.86
Change in Cash Flow$0.00
Refinance Proceeds$0.00