Pebb Capital Secures $173M Construction Loan For Mixed-Use Project Delray Beach, FL
22 West Atlantic Avenue
$173,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Dec 22, 2023
About this deal
AI
The loan for the property located at 22 West Atlantic Avenue in Delray Beach, FL has been finalized. The mixed-use asset, developed by Pebb Capital, secured a construction loan for a total of $173,000,000. The loan was provided by Monroe Capital and J.P Morgan.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $173,000,000
- Date: 12/22/2023
- Address: 22 West Atlantic Avenue
- Market: Delray Beach, FL
- Developer: Pebb Capital
- Lender: Monroe Capital & J.P Morgan
Jason Krane, Simon Ziff, Todd Rosenberg, Todd Benson, Jason Starr, and Kyle Asher were involved in the loan transaction for the property.
On the Map
$173,000,000
Mixed-use
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Players
Delray Beach Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93