Flatiron Realty Capital Provides $5,654,085 Loan For Development Site In Delray Beach

The asset involved in this transaction is a development site for three luxury townhomes located in Delray Beach, Florida. The property is being financed through an 18-month Ground-Up Construction loan provided by Flatiron Realty Capital. The total loan amount secured for this project is $5,654,085.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $5,654,085
• Lender: Sep Talas, Esq. & Robert Talas
• Lender's Agency: Flatiron Realty Capital
• Loan Type: Purchase
• Loan Terms: 18 Month Ground Up Construction Loan

The deal involves an experienced builder in the South Florida market who acquired the land shovel ready. This collaboration with Flatiron Realty Capital enables the borrower to efficiently transition from closing to breaking ground, emphasizing a quick execution with in-house underwriting and a streamlined draw process to maintain construction timelines.