Kolter Group's Bobby Julien Secures $92 Million Construction Loan From Madison Realty Capital In Delray Beach

The asset involved in the transaction is a 12.31-acre development site located at 2101 South Congress Avenue in Delray Beach, FL. The loan amount for this construction project totals $92 million, facilitated through Madison Realty Capital. The site will host a mix of market-rate and workforce housing units in alignment with Florida’s Live Local Act, with completion expected in late 2027.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $92,000,000
• Lender: Josh Zegen - Madison Realty Capital
• Landlord: Bobby Julien - Kolter Group
• Market: Delray Beach, FL
• Asset Size: 12.31 acres

This transaction is noted for the involvement of two key individuals: Josh Zegen represents Madison Realty Capital, which provided the construction loan, while Bobby Julien represents Kolter Group, the landlord developing the project, Alton Delray, which will consist of 386 apartment units.