Updated Sep 8, 2025
Mast Capital Acquires 18.4 Acre Development Site In Palm Springs For $10M
2085 South Congress Avenue, West Palm Beach, Florida 33406, United States
$10,000,000
Building Size
—
Asset Type
Development Site
Closing
Apr 18, 2022
About this deal
AI
Camilo Miguel Jr has successfully sold a development site in Palm Springs for $10,000,000. The property, located at 2085 S. Congress Avenue & 3243 Lillian Road, spans an impressive 18.4 acres. The sale was finalized on April 19, 2022. Mast Capital, Camilo Miguel Jr. represented by Spear Group, and Rockpoint were the buyers, while the seller was YMCA.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $10,000,000
- Market: Palm Springs
- Address: 2085 S. Congress Avenue & 3243 Lillian Road
- Buyer: Mast Capital - Camilo Miguel Jr., Spear Group, and Rockpoint
- Seller: YMCA
- Transaction Date: April 19, 2022
- Asset Type: Development Site
- Size: 18.4 acres
The deal was facilitated by Camilo Miguel Jr. representing Mast Capital, Spear Group, and Rockpoint as the buyer's representative. This successful transaction highlights the expertise and professionalism of these industry leaders.
On the Map
$10,000,000
Development Site
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Players
West Palm Beach Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93