Eddie Salem Of Capital Partners Connect Facilitates $2.82M Loan For Development Site In Atlantic Beach

The asset involved in this transaction is a development site located at 1895 Hickory Lane in Atlantic Beach. The loan amount for this construction financing is $2,817,220, which is allocated for the acquisition and construction of two luxury single-family homes after demolishing the existing home on the double lot.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $2,817,220
• Loan Type: Construction
• Loan Terms: 24 months
• Broker: Eddie Salem - Capital Partners Connect
• Location: 1895 Hickory Lane, Atlantic Beach

Eddie Salem of Capital Partners Connect facilitated this transaction, providing essential financing for the project. The sponsor's plan includes tearing down the existing home to develop two new luxury residences, showcasing a strategic investment in the growing Atlantic Beach market.