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Flatiron Realty Capital Pro...

Updated Apr 21, 2026

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

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

$5,654,085

Building Size

—

Asset Type

Development Site

Closing

Apr 13, 2026

About this deal

AI

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.

Players

Robert Talas

Flatiron Realty Capital

Lender

$898.3M

vol

24 deals

Lender
Flatiron Realty Capital
Flatiron Realty CapitalLender
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Market Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.81%

Cash-on-Cash

-0.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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