Preston Hollow Closes $15M Refinance Loan For Avenir's Palm Beach Gardens Town Center

The Preston Hollow Community Capital has closed a $15 million tax-exempt bond financing for Avenir's new commercial Town Center in Palm Beach Gardens, Florida. This loan, provided by Preston Hollow Community Capital and its representative Ramiro Albarran, supports Avenir Development, LLC in the refinance of their development site located at the intersection of Northlake Boulevard and Avenir Drive. The property, spanning approximately 53 acres, presents an opportunity for growth and infrastructure expansion in the Palm Beach Gardens market.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $15,000,000
• Market: Palm Beach Gardens
• Address: Northlake Boulevard & Avenir Drive
• Lender: Preston Hollow Community Capital - Ramiro Albarran
• Landlord: Avenir Development, LLC - Manuel M. Mato

This transaction highlights the partnership between Preston Hollow Community Capital, led by Ramiro Albarran, and Avenir Development, LLC, headed by Manuel M. Mato. Avenir's vision for the new commercial Town Center in Palm Beach Gardens aligns with the community's growth and infrastructure needs, making the $15 million tax-exempt bond financing crucial for its realization. This loan represents a significant investment by Preston Hollow Community Capital, totaling $239 million, in support of Avenir's development projects.